India's GST collection surged 9% to Rs 1.87 lakh crore in October, driven by higher domestic transactions. The growth was fueled by a 10.6% increase in domestic GST revenue and a 4% rise in import taxes.
New Delhi, Nov 1 (PTI) Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions.
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.
The total gross Goods and Services Tax (GST) revenue grew 8.9 per cent to over Rs 1.87 lakh crore last month. In October 2023, the mop-up was at Rs 1.72 lakh crore.
GST from domestic transactions grew 10.6 per cent to Rs 1.42 lakh crore, while tax on imports rose about 4 per cent to Rs 45,096 crore during October 2024.
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.
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