In october, the Goods and services Tax (GST) surpassed Rs 1 lakh crore. Tax income has climbed for the fourth month in a row, surpassing Rs 1 lakh crore. According to a release from the Union Finance Ministry, "In october 2021, the country's Goods and services Tax (GST) income was Rs 1 lakh 30 thousand 127 crore. GST tax income has surpassed Rs 1 lakh crore for the fourth month in a row. This year's GST revenue is 24% greater than the tax revenue in october 2020 and 36% higher than the revenue in october 2019."

The october GST rate is the second highest in the last five months, following April. In April, the GST revenue totaled Rs 1.41 lakh crore. In July, the company earned Rs. 1.16 lakh crore, Rs. 1.12 lakh crore in August, and Rs. 1.17 lakh crore in September. In october, a total of Rs 1 lakh 30 thousand 127 crore in GST was collected. The central GST tax accounts for Rs 23,861 crore. The GST tax collected by the state is Rs 30 thousand 421 crore. The total GST revenue is Rs 67,361 crore. Chess tax was paid in the amount of Rs 8,484 crore.

The average GST collection during the current fiscal's July-September quarter was Rs 1.15 lakh crore. In the first quarter, it averaged Rs 1.10 lakh crore. When compared to the first quarter, average revenue climbed by 5% in the second quarter.
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S Venkateshwari

02/11/2021 01:20 PM