GST collections surge 23 per cent to ₹2.31 lakh crore in October
Gross Goods and Services Tax collections rose to over ₹2.31 lakh crore in October, driven by festive restocking and robust sales.
Gross Goods and Services Tax (GST) collections rose 23 per cent year-on-year to over ₹2.31 lakh crore in October, according to government data released on Sunday.
The collections, which relate to goods consumed and services availed in September, represent the second-highest level ever recorded, following the ₹2.43 lakh crore mop-up in April.
Collections from domestic sales rose 16 per cent to over ₹1.59 lakh crore, while revenues from imports climbed 42 per cent to ₹72,246 crore.
The total includes Central GST of ₹42,935 crore, State GST of ₹51,340 crore, and Integrated GST of over ₹1.37 lakh crore.
GST refunds increased 6.5 per cent year-on-year to ₹27,934 crore. After adjusting for refunds, net GST collections rose 26 per cent to over ₹2.03 lakh crore.
Between April and October, gross GST collection grew 13.2 per cent to over ₹14.77 lakh crore, while net collections rose 13 per cent to over ₹12.69 lakh crore.