October GST Collection: In October, GST collection grew by 16.6 percent, crossing 1.50 lakh crore for the second time

There has been an increase of 16.6 percent in the Goods and Services Tax collection in October. According to the information given by the Ministry of Finance, the GST collection during this month has increased to Rs 1.52 lakh crore. This is the second-highest GST collection to date. For the second time, the figure for GST collection has reached nearly 1.5 lakh crores. Let us inform you that the GST collection reached a record high of about Rs 1.68 lakh crore in April. Central GST collection in October stood at Rs 26,039 crore.

In October last year, the GST collection figure was over Rs 1.30 lakh crore. According to the information given by the Finance Ministry, the gross GST collection in October 2022 was Rs 1,51,718 crore. According to this, the share of Central GST is Rs 26,039 crore, State GST Rs 33,396 crore, and Integrated GST is Rs 81,778 crore (including Rs 37,297 crore collected on import of goods).

According to the data, Rs 10,505 crore (including Rs 825 crore collected on import of goods) was accumulated by way of cess. GST collection has been over Rs 1.40 lakh crore for eight consecutive months. In September 2022, 83 crore e-way bills were generated, which is much higher than the 7.7 crore e-way bills in August 2022.

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