Gross GST collection increased by 9% to over Rs 1.87 lakh crore in October, driven by higher revenues from domestic transactions.
The breakdown of the collections includes: Central GST 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.
Overall, the total gross Goods and Services Tax (GST) revenue grew by 8.9% compared to the previous year, up from Rs 1.72 lakh crore in October 2023.
GST from domestic transactions saw a notable rise of 10.6%, totaling Rs 1.42 lakh crore, while tax on imports increased by approximately 4%, amounting to Rs 45,096 crore in October 2024.
Refunds issued during the month reached Rs 19,306 crore, marking an 18.2% growth compared to the same period last year.
After accounting for refunds, net GST collection grew by 8% to over Rs 1.68 lakh crore.
(With PTI inputs)
