India's GST Collection Rises 22.9% To Rs 2.31 Lakh Crore In October

New Delhi, Nov 2 (KNN) India's gross goods and services tax (GST) collection rose 22.9 per cent year-on-year to Rs 2.31 lakh crore in October, according to official data released on Sunday.

Cumulative gross GST collections during the first seven months of the current financial year (April-October) stood at Rs 14.78 lakh crore, registering a growth of 13.2 per cent over the corresponding period last year.

Gross domestic revenue increased 15.8 per cent to Rs 1.59 lakh crore in October, while revenue from imports rose 42.2 per cent to Rs 72,246 crore, reported The Economic Times.

Refunds during the month increased 6.5 per cent year-on-year to Rs 27,934 crore.

Net GST revenue rises 25.6%

In the October collection, Central GST (CGST) amounted to Rs 42,935 crore, State GST (SGST) stood at Rs 51,340 crore, while Integrated GST (IGST) was Rs 1.37 lakh crore.

Net GST revenue, after adjusting for refunds, increased 25.6 per cent to Rs 2.03 lakh crore. Net domestic revenue rose 16.4 per cent to Rs 1.45 lakh crore, while net revenue from imports grew 56.2 per cent to Rs 58,319 crore.

Maharashtra leads state-wise collections

Among major states, Maharashtra recorded the highest GST revenue at Rs 35,150 crore in October, up 13 per cent from Rs 31,013 crore a year earlier.

Karnataka followed with collections of Rs 15,922 crore, registering 18 per cent growth, while Gujarat's revenue increased 16 per cent to Rs 13,516 crore.

Uttar Pradesh recorded a 24 per cent rise to Rs 10,235 crore from Rs 8,283 crore in the year-ago period. Haryana's collections grew 17 per cent to Rs 11,529 crore, while Delhi reported a 10 per cent increase to Rs 9,298 crore.

Punjab's GST revenue rose 25 per cent to Rs 2,856 crore. Assam recorded the strongest growth among larger states, with collections jumping 47 per cent to Rs 1,934 crore from Rs 1,315 crore.

Jharkhand registered a 31 per cent increase to Rs 2,821 crore, while Madhya Pradesh's collections rose 29 per cent to Rs 3,768 crore.

Kerala recorded 23 per cent growth to Rs 3,486 crore, while West Bengal's collections increased 17 per cent to Rs 6,055 crore. Telangana reported a 14 per cent rise to Rs 5,958 crore, and Andhra Pradesh's revenue grew 24 per cent to Rs 4,307 crore.

Sikkim, Ladakh report declines

Several states and Union Territories recorded a decline in GST collections during October. Sikkim saw the sharpest fall, with revenue dropping 28 per cent to Rs 221 crore.

Ladakh's collections declined 20 per cent to Rs 63 crore, while Puducherry reported a 7 per cent fall to Rs 179 crore. Himachal Pradesh recorded a marginal 2 per cent decline to Rs 704 crore.

Tamil Nadu's GST revenue increased 3 per cent to Rs 11,661 crore, while Odisha's collections rose 10 per cent to Rs 4,744 crore.

Rajasthan recorded 16 per cent growth to Rs 4,937 crore, and Bihar's revenue increased 24 per cent to Rs 1,827 crore.

(KNN Bureau)