GST collection over Rs 1.51 trillion in October -second highest ever monthly collection, next only to April 2022
Published On: Tuesday, November 1, 2022 | By: Team KnowMyStock
India's tax collection from the sale of goods and services increased to Rs 1.51 trillion in October. This record collection is driven by festive demand, higher rates, and better tax compliance. The revenue for October is the second-highest monthly collection, next only to April 2022, and it is for the second time the gross GST collection has crossed Rs. 1.50 trillion mark. October also saw the second-highest collection from domestic transactions after April. This is the ninth month, and for the eighth month in a row, that monthly GST revenue has been more than Rs 1.4 trillion. In September 2022, as many as 83 million e-way bills were generated, compared to 77 million in August 2022.
Of the total gross GST revenue collected in October, central GST is Rs 26,039 crore, state GST is Rs 33,396 crore, integrated GST is Rs 81,778 crore (including Rs 37,297 crore collected on import of goods), and cess is Rs 10,505 crore (including Rs 825 crore collected on import of goods) The information is as per the provisional data released today(1 November 2022) by the finance ministry.
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