Quick Summary
Buoyed by fest season consumption,the revenue collection from the goods and services tax (GST) for the month of October may once again surpass Rs 1.5 lakh crore. The festive season of October has resulted in buoyancy in consumption patterns, hinting at greater economic recovery. In the past few months, the government has also been able to enforce stricter actions against anti-evasion activities. We are hopeful that the GST collections for October could be as good as April 2022,said a finance
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FAQ :
GST collection for October is expected to surpass Rs 1.5 lakh crore.
The rise is attributed to increased consumption during the festive season, stricter enforcement against tax evasion, and higher prices of goods and services.
In September, India's GST collection from the sale of goods and services soared 26% to Rs 1.47 lakh crore.
The GST collection crossed the Rs 1.5 lakh crore mark in April 2022, when it was recorded at Rs 1.67 lakh crore.
Maharashtra and Gujarat recorded the highest GST collections on a monthly basis, followed by Tamil Nadu and Karnataka.
The data for GST collections for October 2022 is scheduled to be released on Tuesday.
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