GST Collection Crosses Rs 1.30 Lakh Crore, Second-Highest Since Rollout

The government’s goods and services tax revenue collection jumped to the highest since March, and stayed above Rs 1 lakh crore for the fourth straight month.

GST revenue for September, collected in October, stood at Rs 1,30,127 crore, according to a Finance Ministry statement. That’s 24% higher than the year-ago period and 36% over 2019-20.

Break-up of GST collections

• Central GST: Rs 23,861 crore.

• State GST: Rs 30,421 crore.

• Integrated GST: Rs 67,361 crore (includes Rs 32,998 crore collected on import of goods).

• Cess: Rs 8,484 crore (includes Rs 699 crore collected on import of goods).

“The GST revenue has been the second-highest ever since its introduction, second only to that in April 2021 (for March), which related to year-end revenues,” the statement said. “This is very much in line with the trend in economic recovery.”

While revenue from import of goods was 39% higher than the year-ago period, that from domestic transaction (including import of services) was 19% higher. “The revenue would have still been higher if the sales of cars and other products had not been affected on account of disruption in supply of semi-conductors,” said the statement.

Among states, Jammu and Kashmir, and Lakshadweep recorded the highest year-on-year growth in GST revenue collection in October.