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GST Collection In October Surges To Rs 1.3 Lakh Crore, Second-Highest Ever
GST collections
The gross GST revenue collected in the month of October 2021 crossed Rs 1.3 lakh crore. Notably, this figure is the second highest ever since introduction of GST, second only to that in April 2021, which related to year-end revenues.
The revenues for the month of October 2021 are 24 per cent higher than the GST revenues in the same month last year.
During the month, revenues from import of goods was 39% higher and the revenues from domestic transaction (including import of services) are 19% higher than the revenues from these sources during the same month last year.
The gross GST revenue collected in the month of October 2021 is Rs 1,30,127 crore of which CGST is Rs 23,861 crore, SGST is Rs 30,421 crore, IGST is Rs 67,361 crore (including Rs 32,998 crore collected on import of goods) and Cess is Rs 8,484 crore (including Rs 699 crore collected on import of goods).
“This is very much in line with the trend in economic recovery. This is also evident from the trend in the e-way bills generated every month since the second wave. The revenues would have still been higher if the sales of cars and other products had not been affected on account of disruption insupply of semi-conductors," the statement from government stated.
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