GST intake rises 13% to Rs 1.72L cr in October; second highest so far

New Delhi, November 1

Gross GST revenue collection in October was Rs 1.72 lakh crore, which was Rs 10,000 crore more than the intake last month.

This is also the second-highest ever collected, next only to the collection in April which was Rs 1.87 lakh crore, which was also appreciated by Prime Minister Narendra Modi.

Revenue collection shows upward swing

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• Rs 1.87L crhighest-ever revenue from GST recorded in April this year
• Rs 1.66L craverage gross monthly GST collection in current fiscal
• Rs 74,785 cris revenue of the states, Rs 72,934 crore of the Centre in October

Gross GST revenue for October is 13 per cent higher than that in the same month last year. During the month, revenue from domestic transactions (including import of services) was also 13 per cent higher than the revenues from these sources during the same month last year. The average gross monthly GST collection in 2023-24 now stands at Rs. 1.66 lakh crore and is 11 per cent more than that in the same period in the previous financial year.

Of the October collections, Rs 30,062 crore is CGST, Rs 38,171 crore SGST, Rs 91,315 crore (including Rs 42,127 crore collected on import of goods) IGST and Rs 12,456 crore (including Rs 1,294 crore collected on import of goods) is cess.

The government has settled Rs 42,873 crore to CGST and Rs. 36,614 crore to SGST from IGST. The total revenue of the Centre and the states in the month of October after regular settlement is Rs 72,934 crore for CGST and Rs 74,785 crore for SGST.