India's Goods and Services Tax (GST) collection surged to Rs 1.30 lakh crore in October, the second highest since its implementation in July 2017, indicating economic recovery from the COVID-19 pandemic and impact of festive demand, a finance ministry statement said on Monday, The highest GST collection of Rs 1.41 lakh crore was recorded in April 2021.
This is the fourth time in a row when the GST collection was upwards of Rs 1 lakh crore. The collection from GST was Rs 1.17 lakh crore in September, 2021.
Tax collections last month on goods sold and services rendered was 24% higher than in October 2020, and up 36% over 2019-20.
This story is from the November 02, 2021 edition of The Free Press Journal - Mumbai.
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This story is from the November 02, 2021 edition of The Free Press Journal - Mumbai.
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