Oct records second highest GST collection at Rs 1.51 lakh cr

New Delhi, Nov 1 (KNN) The gross GST revenue collected in the month of October 2022 is Rs 151,718 crore of which CGST is Rs 26,039 crore, SGST is Rs 33,396 crore and IGST is Rs  81,778 crore.

The revenue for October 2022 is second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs 1.50 lakh crore mark, said the official statement on Tuesday.

The Cess is Rs 10,505 crore which is second highest till date.

As regular settlement the Finance Ministry has settled Rs 32,883 crore to SGST from IGST and Rs 37,626 crore to CGST.

In addition, Centre has also settled Rs 22,000 crore on adhoc basis in the ratio of 50:50 between Centre and States.

The total revenue of Centre and the States after regular as well as adhoc settlements in the month of October 2022 is Rs 74,665 crore for CGST and Rs 77,279 crore for the SGST.

October also saw the second highest collection from domestic transactions, next only to April 2022. 

This is the ninth month and for eight months in a row now, that the monthly GST revenues have been more than the Rs 1.4 lakh crore mark.  (KNN Bureau)