New Delhi, The people may be saddened by the rapidly increasing inflation in the country, but due to inflation, the government’s bat is the bat. GST collection is also increasing due to inflation. In October, the central government got more than 1.5 lakh crore rupees in the form of Goods and Services Tax (GST). This is the second time since the implementation of the GST system five years ago that the collection of GST has crossed Rs 1.5 lakh crore.
According to the data released by the government, the GST collection in October 2022 was one lakh 51 thousand 718 crore rupees. There has been an increase of 18 per cent in GST collection in this October as compared to last year i.e. October of 2021. The Central Goods and Services Tax (CGST) stood at Rs 26,039 crore in gross GST revenue in October. States’ SGST is Rs 33,396 crore, Integrated IGST is Rs 81,778 crore and Cess collection is Rs 10,505 crore.
The Finance Ministry reported that October saw the second highest collection from domestic transactions. Monthly GST collection for eight consecutive months has been over Rs 1.4 lakh crore. Earlier, in September last month, the GST collection stood at Rs 1,47,686 crore.
