New Delhi, 01 November (Hindustan Reporter). The government’s treasury has been filled with Goods and Services Tax (GST) revenue collection before Diwali. GST revenue collection has reached Rs 1.72 lakh crore in October. GST revenue collection in September was Rs 1.63 lakh crore. An annual increase of 13 percent has been recorded.
The Finance Ministry said in a statement on Wednesday that GST revenue collection in October jumped 13 per cent year-on-year to Rs 1.72 lakh crore. In the previous month, GST collection was Rs 1.63 lakh crore. This is the second highest monthly figure of GST revenue collection. GST collection in April 2023 was Rs 1.87 lakh crore. A year ago, in October 2022, GST collection was Rs 1.52 lakh crore.
According to the data, GST collection in October 2023 has been Rs 1,72,003 crore. Of this, CGST was Rs 30,062 crore, SGST was Rs 38,171 crore, IGST was Rs 91,315 crore (including Rs 42,127 crore collected on import of goods) and Cess was Rs 12,456 crore. This includes Rs 1294 crore received from import of goods in cess. According to the ministry, the average monthly GST revenue collection in the financial year 2023-24 has been Rs 1.66 lakh crore. This is 11 percent more than last year.
Hindustan News/Prajesh Shankar/Pawan
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