Published on Nov 4, 2024
Current Affairs
Gross Goods and Services Tax
Gross Goods and Services Tax

♦ Gross Goods and Services Tax (GST) collection in 2024 October rose 9 percent to over 1.87 lakh crore, the second-highest ever, mainly due to rise in domestic sales and improved compliance. The Central GST collection stood at 33,821 crore rupees, State GST at 41,864 crore rupees, Integrated IGST at 99,111 crore rupees and cess at 12,550 crore rupees during the month. The total gross GST revenue grew 8.9 percent to 1,87,346 crore rupees. In October 2023, the mop-up was at 1.72 lakh crore rupees.

♦ October 2024 recorded the second-best GST mop-up. The highest-ever collection was in April 2024 at over 2.10 lakh crore rupees.