The Goods and Services Tax (GST) collection in October 2023 saw a year-on-year increase of 13%, making it the second highest-ever collection of Rs 1.72 lakh crore, according to the Ministry of Finance.
“The gross GST revenue collected in the month of October, 2023 is ₹ 1,72,003 crore,” the Ministry said in a statement.
“The gross GST revenue for the month of October, 2023 is 13% higher than that in the same month last year. During the month, revenue from domestic transactions (including import of services) is also 13% higher than the revenues from these sources during the same month last year,” the Ministry added.
“The average gross monthly GST collection in the FY 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,” the Ministry further said.
