New Delhi, Nov. 1 -- Gross Goods and Services Tax (GST) collections rose 23 per cent year-on-year to over Rs 2.31 lakh crore in October, marking the second-highest monthly mop-up on record, as festive season purchases supported domestic demand, government data released on Sunday showed.
This was the second consecutive month that GST collections exceeded Rs 2 lakh crore. The October figure was surpassed only by the record Rs 2.43 lakh crore collected in April. The 22.9 per cent annual growth was also the fastest recorded in the current financial year. Revenue from domestic transactions increased 16 per cent to over Rs 1.59 lakh crore, while collections from imports surged 42 per cent to Rs 72,246 crore.
The October gross collection comprised Rs 42,935 crore in Central GST, Rs 51,340 crore in State GST and over Rs 1.37 lakh crore in Integrated GST.
GST refunds during the month rose 6.5 per cent year-on-year to Rs 27,934 crore. After accounting for refunds, net collections grew 26 per cent to over Rs 2.03 lakh crore.
Published by HT Digital Content Services with permission from Millennium Post.