GST Collections Rise 4.6 Percent In October To Rs. 1.96 Lakh Crore Amid Festive Buying
Delhi/Hyderabad, Nov 1 (Maxim News): Gross GST collection increased 4.6 per cent to about Rs 1.96 lakh crore in October, driven by a festive buying spree despite a cut in GST rates.
Goods and Services Tax (GST) rates on 375 items, including kitchen staples to electronics and automobiles, were slashed with effect from September 22– the first day of Navratri and considered auspicious for buying new goods.
The October GST collection number reflects the impact of festive season sales and the pent-up demand. Consumers had held back their purchase decision, awaiting a GST rate cut after Prime Minister Narendra Modi, in his Independence Day speech, had announced that GST rates would be cut ahead of Diwali.
The rate cut was, however, implemented with the onset of Navratri. According to the government data released on Saturday, gross GST mop-up in October was about Rs 1.96 lakh crore, a 4.6 per cent higher over Rs 1.87 lakh crore collections in October 2024.
In August and September this year, the tax collection was a little subdued at over Rs 1.86 lakh crore and Rs 1.89 lakh crore, respectively. The rate of growth in GST collections in year-on-year terms in October at 4.6 percent is, however, lower than the about 9 per cent average growth that the collections saw in the previous months.
The gross domestic revenue, an indication of local sales, grew 2 per cent to Rs 1.45 lakh crore, while tax from imports surged about 13 per cent to Rs 50,884 crore in October. However, GST refunds also rose 39.6 per cent year-on-year to Rs 26,934 crore.
Net GST revenue stood at Rs 1.69 lakh crore in October 2025, recording 0.2 per cent YoY growth. (Maxim News)
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