GST haul hits Rs2.31 lakh crore in October, up 22.9 percent
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Gross GST collections rose 22.9 percent to Rs2.31 lakh crore in October.
- ✓This jump, the fastest since September 2022, came as IGST on imports surged by 42.2 percent.
- ✓Maharashtra led the states in domestic collections, while overall revenue grew steadily.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Forbes India
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
* IGST on imports surged by 42.2 percent to drive growth.
* Maharashtra led states while Tamil Nadu and Sikkim lagged.
Gross GST collections rose 22.9 percent year-on-year to Rs2.31 lakh crore in October, from Rs1.9 lakh crore a year earlier, according to government data released on Sunday. The figures are the highest since April when GST collections were Rs2.4 lakh crore. The growth rate is the fastest since September 2022.
Refunds rose just 6.5 percent to Rs27,934 crore, so net GST revenue grew faster than gross, up 25.6 percent to Rs2.03 lakh crore. Net customs revenue jumped 56.2 percent to Rs58,319 crore, and net domestic revenue rose 16.4 percent to Rs1.5 lakh crore.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Forbes India
Read the full, original unfiltered story directly on the publisher's portal.