Data recap: Car sales, GST mop-up, Sensex returns

livemint.com:

₹1.62 trillion in goods and services tax (GST) in the month of September, marking the fourth highest monthly collection since the inception of the tax regime. The BSE Sensex gained just 1.7% during the July-September 2023, recording its worst returns for the second quarter in four years. At ₹1.62 trillion, the GST collections in September were the fourth highest since the new indirect tax regime began in 2017.

The GST revenue was 10% higher than a year ago. After settlement of inter-state sales to the Centre and states’ accounts, the former received ₹63,555 crore, while the latter earned ₹65,235 crore. Maharashtra, the biggest state economy, reported the highest mop-up.

The GST receipts so far this year are in line with the 10.5% nominal GDP growth rate projected by the government, a report by Mint said. Passenger vehicle (PV) makers in India plan to cash in on the upcoming festive season as most reported record monthly dispatches to dealers in September, Mint reported. Vehicle dispatches hit a record 363,733 units, up 2.4% from a year ago, according to data from carmakers and industry estimates.

The surge was led by sports utility vehicles, which now command over half (52%) of all PV volumes. While Maruti Suzuki recorded dispatches of over 150,000 units, Mahindra & Mahindra and Hyundai saw their highest-ever monthly dispatches. 57.5: That's the purchasing managers’ index that the manufacturing sector recorded in the month of September, down from 58.6 in August, data released by S&P Global showed.