Key Takeaways
- GST collections grew 4.6% year-on-year to ₹1.96 lakh crore in October
- Growth achieved despite tax cuts during festive season
- October 2024 collections were ₹1.87 lakh crore
India’s GST revenue showed robust growth in October, reaching ₹1.96 lakh crore despite government tax reductions during the festive period. The 4.6% year-on-year increase demonstrates strong economic activity during the holiday season.
According to official data released on Saturday, the gross GST collection for October stood at approximately ₹1.96 lakh crore. This represents a significant improvement over the ₹1.87 lakh crore collected during the same month last year.
The growth comes as a positive indicator for the Indian economy, particularly given the tax relief measures implemented by the central government to boost consumer spending during festive celebrations.
