INSUBCONTINENT EXCLUSIVE:
The government collected Rs 1.52 trillion as goods and services tax (GST) in October, a 16.6 per cent rise year-on-year, driven by
festival-related spending, higher tax rates, and better compliance
This was the second-highest monthly collection since the implementation of the indirect tax regime in July 2017
GST collection touched a record high of Rs 1.67 trillion in April.
Of the total gross GST mop-up in October, central GST (CGST) was Rs
26,039 crore, state GST (SGST) Rs 33,396 crore, integrated GST (IGST) Rs 81,778 crore (including Rs 37,297 crore collected on import of
goods), and cess was Rs 10,505 crore (including Rs 825 crore collected on import of goods), according to the provisional data released by
pick-up in the headline GST collection in October reflects a combination of quarter-end flows relating to the transactions in the previous
month, as well as the surge in GST e-way bills ahead of a robust festival season
With the festival season in October, the generation of GST e-way bills is expected to have remained high, which should bolster the
expected given the normalising base, and may continue for the next few months
6.6 trillion, excluding compensation cess.
Further, the total revenue of the Centre and the states, after regular as well as ad hoc
settlements, in October was Rs 74,665 crore for CGST and Rs 77,279 crore for SGST.
Major states have reported an increase in collections,
indicating that it is a broad-based phenomenon across the country
The self-sustained economy seems to be trending with a further decline in tax collection on imports due to various fiscal policies of the
