India’s tax collection from goods and services taxes (GST) in October crossed Rs 1 lakh crore to touch 1.07 lakh crore ($13.6 billion) for the second time since the indirect tax regime was introduced by India in July 2017.
GST crossed the Rs 1 lakh crore-mark for the first time in April this year.
The total gross GST revenue collected in October was little over Rs.1 lakh crore, of which CGST (Central Goods and Services Tax) was Rs 16,464 crore, while SGST (State Goods and Services) and IGST (integrated Goods and Services Tax) contributed Rs 22,826 crore and Rs 53,419 crore respectively, according to a statement issued by India’s finance ministry on Thursday.
The revenue collected in October was higher by 6.64 percent against September's Rs 94,442 crore.
The States that achieved extraordinary growth in total taxes collected from the State assessees include Kerala (44 percent), Jharkhand (20 percent) and Rajasthan (14 percent).
The finance ministry statement said the total number of GST Returns (3B) filed for September up to October 31 was 67.45 lakh. There are over 1.14 crore assessees, most of which are required to file the returns on monthly basis.
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