India’s gross Goods and Services Tax (GST) collections rose 23 per cent year-on-year to Rs 2.31 lakh crore in October
India’s gross Goods and Services Tax (GST) collections rose 23 per cent year-on-year to Rs 2.31 lakh crore in October, supported by higher revenues from domestic sales and a sharp increase in tax collected on imports, according to government data released on Sunday.
The October collection is the second-highest monthly GST mop-up on record, reflecting continued strength in consumption and economic activity.
Gross collections stood at over Rs 1.87 lakh crore in October last year.
Domestic transactions contributed more than Rs 1.59 lakh crore to the total, registering a growth of 16 per cent. GST revenues from imports recorded a much sharper increase of 42 per cent to Rs 72,246 crore.
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