New Delhi — India's gross Goods and Services Tax (GST) collections rose 22.9 per cent year-on-year to ₹2.31 lakh crore in October, reflecting a significant increase in tax revenues, according to official figures released on Sunday.
The total collection stood at approximately ₹1.88 lakh crore in October last year. The latest increase was driven largely by higher revenue from imports, which recorded a growth of 42.2 per cent to reach ₹72,246 crore.
GST collections from domestic transactions also registered a substantial increase, rising 15.8 per cent to ₹1.59 lakh crore. The figures indicate growth in tax receipts from both domestic economic activity and imported goods.
After adjusting for refunds, net GST revenue stood at ₹2.03 lakh crore, marking a year-on-year increase of 25.6 per cent.
The monthly GST figures are closely watched as an indicator of tax revenue trends and economic activity. The October performance marks a notable increase compared with the corresponding period last year, according to the official data.
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