The GST collection for October is the highest..!?

Sowmiya Sriram
The GST collection for october is the highest..!?
Goods and services Tax (GST) brought under the name of a single tax has increased to a record level in the month of October. After the implementation of GST, october became the second-highest collection month. This is also believed to be due to two major festivals (Dussehra and Diwali) falling in the same month. dussehra is known to be the biggest festival in many states of the country. Diwali, there is no need to tell about its rush.
Compared to last year (2023), this year's october GST collection has increased by 9 percent to Rs.1.87 lakh crore. It is said to be the second highest in a month after the implementation of GST. It is known that in the current financial year (between april 1, 2024 and march 31, 2025), a total of Rs.2.10 lakh crores of GST has been collected in April. This huge collection should be said to be an all-time record so far. This october has recorded the second-highest collection.
Domestic sales and expansion of the tax base are also expected to be the reason for the latest record collections. Out of the GST collection of Rs.1,87,346 crore collected in october across the country, refunds of Rs.19,306 crore have been made. This year the refunds are also higher as compared to october last year. If they are also excluded, the GST collection has increased by 8 percent to Rs.1.68 lakh crore. Such a huge collection is considered a good sign. If this momentum continues, it is heard that more huge collections are certain in the coming days.
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