India's goods and services tax (GST) collections in October grew 13 per cent over a year earlier to ₹1.72 trillion, mainly on account of stricter anti-evasion measures and higher festival-season consumer spending, showed data released by the finance ministry on Wednesday. This was the second-highest monthly figure ever, next only to the ₹1.87 trillion collected in April this year.
The October number -5.5 per cent higher than the ₹1.63 trillion mop-up recorded in September has taken the average country's gross monthly GST collection in FY24 to ₹1.66 trillion, 11 per cent higher on a year-on-year basis, the ministry said.
Notably, this was the eighth straight month to see a collection of more than ₹1.5 trillion.
This story is from the November 02, 2023 edition of Business Standard.
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This story is from the November 02, 2023 edition of Business Standard.
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