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India's GST collections exceeded ₹1.87 lakh crore in October, the second highest ever recorded, after April 2024's ₹2.1 lakh crore.
The growth rate of GST collections rebounded to 8.9% in October, up from a low of 6.5% in September.
After accounting for refunds, net GST revenues grew at 7.9%, reaching over ₹1.68 lakh crore, improving from September’s 3.9% growth.
Despite the growth, current GST revenues are still below the government's target of an 11% increase for the fiscal year 2024-25.
Domestic transaction revenues grew significantly at 10.6% in October, compared to about 6% in September.
Revenue from imports rose more slowly at 3.9%, down from 8% in the previous month.
Cumulative Revenues: For the first seven months of this year, overall GST revenues totaled ₹12.74 lakh crore, reflecting a 9.4% increase compared to the same period last year.
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