Quick Summary
India recorded significant growth in its Goods and Services Tax (GST) collections for October 2024, showcasing a strong economic momentum. According to the latest data, the total gross GST revenue surged to ₹1,87,346 crore, marking an 8.9% increase from October 2023. Year-to-date (YTD) collections have reached ₹12.74 lakh crore, a 9.4% rise over the previous year, reflecting consistent demand and effective tax administration. Key Highlights Domestic Revenue Boost: Domestic GST collections
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FAQ :
The total gross GST revenue collected in October 2024 was ₹1,87,346 crore.
This collection is the second-highest ever recorded and represents an 8.9% increase compared to October 2023.
The increase was primarily driven by strong domestic GST collections, which rose by 10.6%, indicating robust economic activity within India.
GST collections from imports showed a more moderate growth rate of 3.9%.
States like Gujarat (17% growth) and Maharashtra (14% growth) led the way, with Kerala also recording a notable 20% increase.
With administrative efforts to curb evasion and enhance compliance, revenue growth is expected to remain strong.
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