GST collections at Rs 1.72 lakh crore in Oct, second highest-ever

New Delhi: GST collections in October stood at Rs 1.72 lakh crore, the second highest-ever, the finance ministry said Wednesday.

The collections are 13 per cent higher than the Rs 1.52 lakh crore collected in October 2022.

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“GST revenue collection for October 2023 is second highest ever, next only to April 2023, at Rs 1.72 lakh crore; records increase of 13 per cent Y-o-Y,” the ministry said in a statement.

The highest-ever revenue from Goods and Services Tax (GST) was recorded in April 2023 at Rs 1.87 lakh crore.

The average gross monthly GST collection in the FY 2023-24 now stands at Rs 1.66 lakh crore, 11 per cent higher than the year-ago period.

PTI