October GST Collections Reach Second-Highest Ever at ₹1.87 Lakh Crore

Driven by strong domestic demand and improved compliance, October's GST revenue marks a 9% increase from last year.

October 2024 recorded a GST collection of ₹1.87 lakh crore, the second-highest since the GST regime began in 2017.
Maharashtra led the states with the highest GST contribution, followed by Karnataka and Gujarat.
Domestic GST collections saw a 10.6% increase, while import collections grew by only 3.9%, highlighting domestic demand strength.
Refunds processed in October surged by 42.8% compared to last year, reflecting improved efficiency in the GST administration.
Despite strong domestic performance, experts remain cautious about potential global economic impacts on future GST growth.