India’s Goods and Services Tax revenue collection for the month of October stood at Rs 1,87,346 Crore, marking a 8.9% increase from Rs 1,72,003 Crore in October of 2023.
When compared to September 2024, India recorded a monthly GST collection of Rs 1,73,240 crore.
Domestic Gross Revenue in October grew by 10.6% at Rs 1,42,251 Crore.
The CGST collections rose to Rs 33,821 Crore, while SGST collections increased to Rs 41,864 crore. IGST, which includes revenues from imports, surged to Rs 99,111 crore, and cess collections amounted to Rs 12,550 Crore.
Revenue from Imports
The gross GST revenue from imports in October 2024 stood at Rs 45,096 crore, up by 3.9% compared to Rs 43,421 Crore in October 2023. The IGST collected on imports alone amounted to Rs Rs 44,233 Crore, indicating an increase in import activities.
The cess collected from imports decreased to Rs 862 Crore from Rs 1294 Crore in October last year.
Net Revenue Collections
After accounting for refunds, the net GST revenue stood at Rs 1,68,041 Crore for October 2024, a 7.9% increase from Rs 1,55,668 Crore in October 2023.
Regional Growth Variations
Among the states, Maharashtra recorded the highest GST collections, registering Rs 31,030 crore, a 14% increase compared to October 2023.
Karnataka and Gujarat are next in the row of highest GST collections at Rs 13,081 Crore and Rs 11,407 Crore respectively.
However, Lakshadweep and Mizoram recorded the lowest of GST Collections at Rs 1 Crore and Rs 41 Crore respectively.
GST Collections FY25
