GST collections jumped 16.6% to ₹1.52 lakh crore in October, says Center

India’s government recently announced that the GST collected in October was $1.51 lakh crore, which is an increase from September’s figure of $1.41 lakh crores +++. Of these, the Central Goods and Services Tax (CGST) was $Rs 26,039 crore, and State Customs Goods and Services Tax (SGST) was $33,396 crore.

The Indian Government reports that the collection of IGST, which includes the GST collected on imports, stood at $81,778 crore which is equivalent to $37,297.

The National Tax Online portal for goods and services tax (GST) has projected the revenue for the month of October 2022 as the second-highest monthly revenue after April. The gross collection of GST crossed over $1.5 trillion rupees for the second time.

The domestic trade during the last month was the second highest of all of March, behind only April this year. This is the ninth month in a row that monthly income has been over $1.4 trillion.

The Indian Government says electronic invoices for 8.3 million rupees were generated, which is more than the electronic invoices of 7.7 million rupees in August. The government also said that GST collections in September jumped 26%.

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