Gross GST collections rise 23% to ₹2.31 trillion in October on strong sales
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Gross GST collections rose 23 per cent to ₹2.31 trillion in October.
- ✓Government data showed that strong domestic sales and imports pushed these numbers up.
- ✓After giving out refunds, the net collection grew 26 per cent to over ₹2.03 trillion.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Standard
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Gross GST collections increased 23 per cent to over ₹2.31 trillion in October, driven by strong mop-up from domestic activities and imports, according to government data released on Sunday.
Gross GST collections from domestic sales rose 16 per cent to over ₹1.59 trillion, and revenues from imports climbed 42 per cent to ₹72,246 crore.
The ₹2.31 trillion collection includes Central GST mop-up of 42,935 crore, State GST of ₹51,340 crore and Integrated GST of over ₹1.37 trillion, data showed.
Goods and Services Tax (GST) refunds increased 6.5 per cent year-on-year to ₹27,934 crore in October.
After adjusting for refunds, net GST collections rose 26 per cent to over ₹2.03 trillion in October.
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