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GST Collections: GST collections in October reached a six-month high of Rs 1.87 lakh crore, remaining above the Rs 1.7 lakh crore mark for the eighth consecutive month. According to data released on November 1, tax collections were 8.1 percent higher and 8.9 percent higher than in October 2023, when it was Rs 1.72 lakh crore.
Central GST collection in the month of October is Rs 33,821 crore
According to official data released on Friday, the Central GST collection in the month of October was Rs 33,821 crore, State GST was Rs 41,864 crore, Integrated GST was Rs 99,111 crore and cess was Rs 12,550 crore.
GST revenue grew by 8.9 percent to over Rs 1.87 lakh crore
The total gross GST revenue grew 8.9 percent to over Rs 1.87 lakh crore last month. GST collections stood at Rs 1.72 lakh crore in the same period a year ago. Data shows that GST collections from domestic transactions grew 10.6 percent to Rs 1.42 lakh crore. Meanwhile, taxes on imports rose by nearly four percent to Rs 45,096 crore during October, 2024.
GST collection increased by 8 percent to over Rs 1.68 lakh crore
Refunds worth Rs 19,306 crore were issued in October, an increase of 18.2 percent over the same period last year. Net GST collections after adjusting for refunds rose by eight percent to over Rs 1.68 lakh crore.
