Categories: Economy

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.

List of previous months GST Collection:

September 2021: Rs. 1,17,010 crores
August 2021: Rs. 1.12 lakh crores
July 2021: Rs. 1,16,393 crores
June 2021: Rs. 92,849 crores
May 2021: Rs. 1,02,709 crores
April 2021: Rs. 1.41 lakh crores (All time Highest)
March 2021: Rs. 1.24 lakh crores
February 2021: Rs 1,13,143 crores
January 2021: Rs. 1,19,847 crores

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.