Law Legends


GST Revenue Collection For October 2023 Is The Second Highest Ever, GST Collection For October 2023 Is Rs. 1.72 Lakh Crore.

As per the data published by the Ministry of Finance, the GST (Goods and Services) Collection for October 2023 is Rs. 1.72 lakh crore. The GST revenue collection for October 2023 is the second-highest-ever.

This is a record increase of 13% Y-o-Y (Year-Over-Year).

Also, Revenue from domestic transactions (including import of services) is 13% higher Y-o-Y.

The average gross monthly collection of the GST in FY 2023-24 now stands at ₹1.66 lakh crore; which is 11% higher on Y-o-Y.

The gross GST collection for October 2023 is ₹ 1,72,003 crore out of which ₹ 30,062 crore is CGST, ₹ 38,171 crore is SGST a ₹ 91,315 crore (including ₹ 42,127 crore collected on import of goods) is IGST and ₹ 12,456 crore (including ₹ 1,294 crore collected on import of goods) is cess.

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