Gross Goods and Services Tax (GST) collection in October rose 9 percent to over 1.87 lakh crore, the second-highest ever, mainly due to rise in domestic sales and improved compliance.
The Central GST collection stood at 33,821 crore rupees, State GST at 41,864 crore rupees, Integrated IGST at 99,111 crore rupees and cess at 12,550 crore rupees during the month. The total gross GST revenue grew 8.9 percent to 1,87,346 crore rupees. In October 2023, the mop-up was at 1.72 lakh crore rupees.
October 2024 recorded the second-best GST mop-up. The highest-ever collection was in April 2024 at over 2.10 lakh crore rupees. The strong GST numbers indicate a healthy trajectory for India’s economy, driven by domestic consumption and import activity. Experts say, the buoyancy in GST collections is on account of an excellent combination of festive season sales and increased compliance.