The impact of the pick-up in demand in the festive season is clearly visible on the GST collections. People are buying heavily, as a result of which there has been a record GST collection in the month of October. The total GST collection in October stood at Rs 1,30,127 crore, which is the second highest figure since the implementation of GST.
There is good news for the government on the Goods and Services Tax (GST) collection front. According to the data presented, the country’s GST collection in the month of October has increased to Rs 1.30 lakh crore as compared to the previous month. In September, it stood at Rs 1.17 lakh crore. If we look at the figures released by the government, the GST collection in October 2021 has been the second highest figure since the implementation of GST. This is 24 per cent higher than the collection in the same month last year and 36 per cent higher than 2019-20.