The October GST revenues were 6.64% more than the September collection when the government collected Rs 94,442 crore
New Delhi: On account of the festive season and a surge in consumer demand, collections from the goods and services tax crossed Rs 1 lakh crore in October.
After April, where the collections crossed Rs 1 lakh crore due to spillover tax payments for the second year, October recorded collections worth more than Rs 1 lakh crore.
The pick-up in collections will provide respite to a government struggling to meet its fiscal deficit target. “GST collections for October 2018 have crossed Rs. 1 lakh crore. The success of GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities,” Jaitley said in a tweet.
The October GST revenues were 6.64% more than the previous month when the government collected Rs 94,442 crore. Total GST collected in October was Rs 1.007 trillion, of which Central GST was Rs 16,464 crore, state GST was Rs 22,826 crore, integrated GST was Rs. 53,419 crore and cess was Rs. 8,000 crore.
The states which achieved extraordinary growth in total taxes collected from their assesses include Kerala (44%), Jharkhand (20%), Rajasthan (14%), Uttarakhand (13%) and Maharashtra (11%).
(With agency inputs)
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Last Updated 1, Nov 2018, 2:28 PM