Festive Shopping Pushes GST Collections to a Record High for October

Festive season purchases have given a significant boost to India’s Goods and Services Tax (GST) collections in October. The government collected a total of ₹2.31 lakh crore in GST during the month, marking a 22.9% increase compared with the same period last year. Of the total revenue, ₹1.59 lakh crore came from domestic sales of goods and services, while GST collected on imports contributed ₹72,246 crore. This is the highest monthly collection since the record ₹2.43 lakh crore recorded in April. October also witnessed the strongest monthly growth in GST collections during the current financial year.

The total October GST revenue included ₹42,935 crore from Central GST, ₹51,340 crore from State GST and around ₹1.37 lakh crore from Integrated GST. After accounting for refunds worth ₹27,934 crore, net GST collections stood at ₹2.03 lakh crore, registering a 26% increase over the corresponding period last year. During the April–October period of the current financial year, gross GST collections reached ₹14.77 lakh crore, while net collections stood at ₹12.69 lakh crore. Compared with the same period last year, gross collections grew by 13.2% and net collections increased by 13%.

The two Telugu states together contributed ₹10,265 crore to the October GST revenue. Telangana accounted for ₹5,958 crore, while Andhra Pradesh contributed ₹4,307 crore. Telangana recorded a 14% growth in GST collections compared with the same period last year, while Andhra Pradesh registered a stronger growth of 24%. The figures reflect the rise in tax revenue during the festive shopping season.