GST Collections Touch ₹ 1.30 Lakh Crore In October

Goods and Service Tax (GST) collections rose to ₹ 1.30 lakh crore in October, the second highest since its implementation in July 2017.

The highest-ever GST collection of ₹ 1.41 lakh crore was recorded in April 2021.

This is the fourth consecutive time when GST collections have crossed ₹ 1 lakh crore mark. The collections from GST were ₹ 1.17 lakh crore in September 2021.

Meanwhile the government on Wednesday released ₹ 17,000 crore to states as GST compensation, under the ongoing process of helping them meet their revenue shortfall.