NEW DELHI, Nov 2: India’s gross (GST) collection in October rose by 9 percent to over ₹1.87 lakh crore, making it the second-highest collection in history. This growth is largely due to a rise in domestic sales and improved compliance.
The GST collections for the month are broken down as follows: Central GST at ₹33,821 crore, State GST at ₹41,864 crore, Integrated IGST at ₹99,111 crore, and cess totaling ₹12,550 crore. Overall, the gross GST revenue increased to ₹1,87,346 crore, compared to ₹1.72 lakh crore in October 2023.
October 2024 marks the second-best GST collection, following the record high of over ₹2.10 lakh crore achieved in April 2024. The strong GST results indicate a healthy economic trajectory for India, driven by robust domestic consumption and increased import activities. Analysts attribute the rise in collections to a successful blend of festive season sales and better compliance measures.
