GST collection jumps 13% YoY to ₹1.72 lakh crore in October | Mint
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Business News/ Economy / GST collection jumps 13% YoY to 1.72 lakh crore in October
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GST collection jumps 13% YoY to ₹1.72 lakh crore in October

GST revenue collection jumped by 13% YoY in October to ₹1.72 lakh crore. Notably, this is the highest-ever collection next to April 2023

GST revenue collection reached to ₹1.72 lakh crore in October, second-highest record (HT)Premium
GST revenue collection reached to 1.72 lakh crore in October, second-highest record (HT)

Goods and Services Tax(GST) revenue collection jumped by 13% YoY to 1.72 lakh crore in October this year. This is the second highest-ever GST revenue collection ever.  

Notably, this is the second highest gross GST revenue collection next to April month of this financial year. Out of the total gross GST, 30,062 crore is CGST, 38,171 crore is SGST, 91,315 crore is IGST and 12,456 crore is cess. The total revenue of Centre and the States in October stood at 72,934 crore for CGST and 74,785 crore for SGST.

During October, revenue from domestic transactions (including import of services) is also 13% higher than the revenues from these sources during the same month last year. 

(More to come)

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Published: 01 Nov 2023, 02:47 PM IST
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