BUSINESS

In October, GST receipts reached a record-breaking Rs 1.72 lakh crore

The finance ministry said on Wednesday that October’s GST receipts were the second-highest ever at Rs 1.72 lakh crore.

The amount collected is 13% more than the Rs 1.52 lakh crore that was brought in during October of 2022.

The ministry released a statement saying, “GST revenue collection for October 2023 is second highest ever, next only to April 2023, at Rs 1.72 lakh crore; records increase of 13 per cent Y-o-Y.”

In April 2023, the Goods and Services Tax (GST) generated its highest-ever income of Rs 1.87 lakh crore.

The average gross monthly GST collection for the fiscal year 2023–2024 is now Rs 1.66 lakh crore, which is 11% more than it was for the same time last year.

 

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