New Delhi, Nov. 2 -- Gross Goods and Services Tax (GST) revenue in October neared Rs.1.96 lakh crore-the fifth highest monthly collection since the tax regime's 2017 launch-despite capturing a September when consumers postponed purchases awaiting the massive rate reductions effective September 22.

October's figures primarily reflect September's business activity, when consumers deferred spending for the rate cuts. GST collection data for any month captures the preceding month's business activities.

The modest growth validates the government's GST 2.0 strategy, with November collections reflecting business activities of October expected to show the first full month of post-rate cut festive buying that ministers claim has surged.

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