GST collections in October 2023 hit second highest ever of ₹1.72 lakh crore

The collections are 13 per cent higher than the ₹1.52 lakh crore collected in October 2022.

GST collections in October stood at ₹1.72 lakh crore, the second highest-ever, the finance ministry said on Wednesday.

The highest-ever revenue from Goods and Services Tax (GST) was recorded in April 2023 at ₹1.87 lakh crore. (HT File)

The collections are 13 per cent higher than the ₹1.52 lakh crore collected in October 2022.

"GST revenue collection for October 2023 is second highest ever, next only to April 2023, at ₹1.72 lakh crore; records increase of 13 per cent Y-o-Y," the ministry said in a statement.

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The highest-ever revenue from Goods and Services Tax (GST) was recorded in April 2023 at ₹1.87 lakh crore.

The average gross monthly GST collection in the FY 2023-24 now stands at ₹1.66 lakh crore, 11 per cent higher than the year-ago period.