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GST Collection Data: Due to the festive season, there has been a huge jump in GST collection in October 2024. Goods and Services Tax collection in October was Rs 1,87,346 crore, which is 8.9 percent more than Rs 1.72 lakh crore in October of the last financial year. The GST collection in September 2024 was Rs 1.73 lakh crore. After issuing GST refunds, the total collection in the month of October has been Rs 1,68,041 crore with a jump of 8 percent.
The data of gross and net collection of Goods and Services has been released for the month of October. The total GST revenue in this month has been Rs 1.87,346 crore. In which CGST revenue is Rs 33,821 crore, SGAC revenue is Rs 41,864 crore, IGST is Rs 54,878 crore and Cess is Rs 11,688 crore. There has been a jump of 10.6 percent in gross domestic revenue. On the imports front, revenue of Rs 44,233 crore has come from IGST and Rs 862 crore from Cess.
The total GST collection has been Rs 1,87,346 crore, of which Rs 19,306 crore GST refund has been issued. Refund of Rs 16,335 crore was issued in the month of October of the last financial year. That means there has been an increase of 18.2 percent in giving refunds in the month of October. Till October of the current financial year, the GST collection has been Rs 12,74,442 crore, which is 9.4 percent more than Rs 11,64,511 crore of the previous financial year.
If we look at state-wise GST revenue, the highest GST collection has been seen in Maharashtra. There has been a revenue of Rs 31,030 crore with a jump of 14 percent which was Rs 27,309 crore in the same month last year. Recovery of Rs 9602 crore has been seen in Uttar Pradesh, Rs 13,081 crore in Karnataka, Rs 11,407 crore in Gujarat and Rs 10045 crore in Haryana. Collection has increased in all these states this October. However, the collection has decreased by 2 percent in Himachal Pradesh, 5 percent in Manipur and 1 percent in Chhattisgarh.
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