Government collected Rs 1.30 lakh crores as GST for October

Gross Goods and service tax (GST) collection for the month of October came in at Rs 1,30,127 crore, the second-highest collection since GST was implemented in July 2017. The highest-ever GST collection of ₹ 1.41 lakh crore was recorded in April 2021. Revenues for the month are 24% higher year-on-year.

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Of the gross GST revenue collected in October, Rs 23,861 crore was towards CGST, Rs 30,421 crore was towards SGST and Rs 67,361 crore was towards IGST, and Cess amounted to Rs 8,484 crore. According to the decision taken by the GST Council, back to back the loan of Rs 1.59 lakh crore has been released in advance in lieu of a shortfall in the release of GST compensation during the current fiscal.