GST records second-highest collection at Rs 1.87 lakh crore in October driven by domestic sales

Gross GST collection in October rose 9 per cent to over Rs 1.87 lakh crore, the second-highest ever, on pick-up in domestic sales and improved compliance.

The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore during the month.

As per the government data released on Friday, the total gross Goods and Services Tax (GST) revenue grew 8.9 per cent to Rs 1,87,346 crore. In October 2023, the mop-up was at Rs 1.72 lakh crore.

October 2024 recorded the second-best GST mop-up. The highest ever collection was in April 2024 at over Rs 2.10 lakh crore.

During the month under review, GST from domestic transactions grew 10.6 per cent to Rs 1.42 lakh crore, while revenues from tax on imports rose about 4 per cent to Rs 45,096 crore.

Refunds worth Rs 19,306 crore were issued during the month, registering 18.2 per cent growth over the year-ago period.

After adjusting refunds, net GST collection grew 8 per cent at over Rs 1.68 lakh crore.