Nov.03: The Finance Ministry announced on Wednesday that GST collections in October reached ₹1.72 lakh crore, making it the second highest ever.
As per the information provided, this figure represents a 13 per cent increase compared to the ₹1.52 lakh crore collected in October 2022.
The ministry informed that the GST revenue collection for October 2023 is second highest ever, next only to April 2023, at ₹1.72 lakh crore; records increase of 13 per cent Y-o-Y. The highest-ever revenue from GST was achieved in April 2023, totaling ₹1.87 lakh crore.
Additionally, the average gross monthly GST collection in the FY 2023-24 now stands at ₹1.66 lakh crore, which is 11 percent higher than the previous year.
