Central Govt releases GST Revenue Collection Report for October 2024

The Central Government has released the GST revenue collection report for October 2024, showing a significant increase in collections. The total gross GST revenue for October 2024 was ₹1.75 lakh crore, reflecting a 12% growth compared to the same period last year. The report highlights the contributions from various components, including CGST, SGST, IGST, and Cess. The increase in revenue is attributed to improved compliance and economic recovery. The government has also noted a rise in the number of GST returns filed, indicating better adherence to tax regulations by businesses. The report provides a detailed breakdown of collections across different states, with Maharashtra, Karnataka, and Tamil Nadu showing substantial growth. This positive trend in GST collections is expected to support the government’s fiscal position and enable continued investment in public services and infrastructure.