october-gst-collection-sees-9-growth-tops-rs-1-87l-cr

India’s gross GST collections rose by 9% to surpass Rs 1.87 lakh crore in October, driven by increased revenues from domestic transactions, official data showed Friday.

 

The Central GST collection stood at Rs 33,821 crore, while State GST reached Rs 41,864 crore. Integrated GST (IGST) totaled Rs 99,111 crore, and cess collections came in at Rs 12,550 crore.

 

GST revenues from domestic transactions grew by 10.6% year-on-year to Rs 1.42 lakh crore. Tax revenue from imports also increased, albeit at a slower pace, with a 4% rise to Rs 45,096 crore during October.

 

Refunds issued for the month were valued at Rs 19,306 crore, marking an 18.2% year-over-year increase. After accounting for refunds, the net GST collection for October was Rs 1.68 lakh crore, an 8% growth compared to the same period last year.