Gross GST collections rose 22.9 percent to Rs2.31 lakh crore in October. This jump, the fastest since September 2022, came as IGST on imports surged by 42.2 percent. Maharashtra led the states in domestic collections, while overall revenue grew steadily. Total collections from April to October reached Rs14.8 lakh crore.
* IGST on imports surged by 42.2 percent to drive growth.
* Maharashtra led states while Tamil Nadu and Sikkim lagged.
Gross GST collections rose 22.9 percent year-on-year to Rs2.31 lakh crore in October, from Rs1.9 lakh crore a year earlier, according to government data released on Sunday. The figures are the highest since April when GST collections were Rs2.4 lakh crore. The growth rate is the fastest since September 2022.
Refunds rose just 6.5 percent to Rs27,934 crore, so net GST revenue grew faster than gross, up 25.6 percent to Rs2.03 lakh crore. Net customs revenue jumped 56.2 percent to Rs58,319 crore, and net domestic revenue rose 16.4 percent to Rs1.5 lakh crore.
Cumulatively, gross collections from April to October reached Rs14.8 lakh crore, up 13.2 percent from Rs13.1 lakh crore in the same period last year. Net collections for the period stand at Rs12.7 lakh crore, up 12.6 percent.
Among states, Maharashtra led with Rs35,150 crore in domestic collections, up 13 percent. Karnataka (Rs15,922 crore, up 18 percent), Gujarat (Rs13,516 crore, up 16 percent) and Haryana (Rs11,529 crore, up 17 percent) followed. Assam grew 47 percent, while Uttar Pradesh and Andhra Pradesh each grew 24 percent.