GST Collections Cross 1 lakh crore INR in October

Goods and Services Tax (GST) is an historical reform in Indian tax industry by the NDA government led by Honourable Prime Minister Narendra Modi. It was an effort to consolidate a number of levied at local, state and central level. After its implementation everyone was keen to know the effects of GST on Indian economy.

Finance Ministry has released a report on Thursday saying that GST collections has crossed Rs 1 lakh mark. Over 67 million businesses have filed Goods and Services tax returns in October which has amounted to a total of 100710 crores.

It was due to the festive season and anti evasion measures taken by government.

 

Here is a list of states with maximum growth in tax collection

  1. Kerela (44 percent)
  2. Jharkhand (20 percent)
  3. Rajasthan (14 percent)
  4. Uttrakhand (13 percent)
  5. Maharasthra (11 percent)

 

GST revenue collections in last four months

  • July – 96,483 crores
  • August – 93960 crores
  • September – 94442 crores
  • October – 100710 crores

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