State records 32% growth in GST revenue

Team Herald

PANJIM: Goa continued to witness a rise in Goods and Services Tax (GST) collections with the State recording a 32 per cent growth in revenue in October.   

According to the Union Finance Ministry, Rs 420 crore was collected as GST in October this year as against Rs 317crore during the corresponding month last year. 

In September, State’s GST collection was at 35 per cent higher as against Rs 319 crore of revenue in 2021. This year, the revenue stood at Rs 429 crore.  

In August, the GST revenue collection saw a 32 per cent increase compared to the previous year. This year Rs 376 crore was collected as GST as against Rs 285 crore in August 2021. 

The month of July also recorded 43 per cent growth in GST collection compared to a similar period last year. 

The country’s gross GST revenue collected in the month of October stood at Rs 1,51,718 crore, of which CGST is Rs 26,039 crore, SGST is Rs 33,396 crore, IGST is Rs 81,778 crore (including Rs 37,297 crores collected on import of goods) and Cess is Rs 10,505 crore, which is second highest till date.

Also, the Centre has settled Rs 37,626 crores to CGST and Rs 32,883 crores to SGST from IGST as regular settlement.