October’s GST revenue crosses ₹1.51 lakh crore
2nd Nov 2022
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October’s GST revenue crosses ₹1.51 lakh crore
- India’s gross GST revenue touched ₹1, 51,718 crore in October, 16.6% higher than a year ago, marking the second highest monthly collections since the launch of the indirect tax regime.
- Revenue from domestic transactions, including imports of services, increased 18% during the month, with the Finance Ministry stating that October marked the second highest collection from domestic transactions “next only to April 2022”.
- There were significant variations among major States’ revenues during the month. While Haryana recorded a 37% up tick, followed by Karnataka (33%), Kerala (29%), West Bengal (26%) and Tamil Nadu (25%), revenues grew slower than the national average in Gujarat and Telangana (11%), Madhya Pradesh and Rajasthan (10%) and Uttar Pradesh (16%).
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