GROSS GOODS and Services Tax (GST) collections surged 13.4 per cent year-on-year in October — for sales in September — to Rs 1.72 lakh crore, the second-highest level since the July 2017 rollout of the indirect tax regime, according to data released by the Finance Ministry on Wednesday. A pickup in consumption and economic activity along with settlement of disputes by businesses following a spate of notices issued by GST authorities are likely to have contributed to the sharp rise in the GST revenue.
With the latest print, the GST collections have averaged at Rs 1.66 lakh crore per month during April-October 2023, up 11.4 per cent than the monthly average of Rs 1.49 lakh crore during April-October 2022.
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