GST collections rise 13% yoy to Rs 1.72 lakh cr in October; second highest after April
GST) collections for the month of October increased by 13 per cent Y-o-Y to Rs 1.72 lakh crore, revealed data published by the Ministry of Finance.
The collection for the month of October has emerged as the second highest ever after April 2023, which stood at Rs 1.87 lakh crore.
The government has settled Rs 42,873 crore to CGST and Rs 36,614 crore to SGST from IGST.
The average gross monthly GST collection for the fiscal year 2023-24 now stands at Rs 1.66 lakh crore which is 11 er cent higher Y-o-Y, said the Finance Ministry.
«During the month, revenue from domestic transactions (including import of services) is also 13 per cent higher than the revenues from these sources during the same month last year,» said Ministry through its statement.
GST revenue from Centre and the States in the month of October, 2023 after regular settlement is Rs 72,934 crore for CGST and Rs 74,785 crore for SGST.
