GST collection grows 9% to ₹1.87 lakh crore in October

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Gross GST collection grew 9% to over ₹1.87 lakh crore in October on higher revenues from domestic transactions.

The Central GST collection stood at ₹33,821 crore, State GST at ₹41,864 crore, Integrated IGST at ₹99,111 crore and cess at ₹12,550 crore.

The total gross Goods and Services Tax (GST) revenue grew 8.9% to over ₹1.87 lakh crore last month. In October 2023, the mop-up was at ₹1.72 lakh crore.

GST from domestic transactions grew 10.6% to ₹1.42 lakh crore, while tax on imports rose about 4% to ₹45,096 crore during October 2024.

Also read: What is GST and how will it affect you? All your questions answered

Refunds worth ₹19,306 crore were issued during the month, registering 18.2% growth over the year-ago period.

After adjusting refunds, net GST collection grew 8% at over ₹1.68 lakh crore.