Goods and Services Tax (GST) collections in October 2020 were Rs 1.05 lakh crore, making it the first time monthly revenues that crossed the Rs 1 lakh crore mark in FY21. This was higher than the Rs 95,379 crore collections made in September 2020. The GST revenue collections for October month were Rs 1,05,155 crore, which is 10 percent higher than October 2019.
Data suggest that for the month of September and October 2020, GST collections were higher compared to the respective months in 2019. The growth in GST revenue is consistently improving as compared to that in months of July, August, and September 2020 of -14%, -12%, and 4%, respectively, clearly indicating the recovery in the economy.
The state-wise GST collection for October 2020 was Rs 80,848 crore out of which the top 5 states Maharastra, Karnataka, Tamil Nadu, Gujarat, and Uttar Pradesh contributed over 50 percent, at about Rs 42,000 crore.
States like Arunachal Pradesh, Dadra, and Nagar Haveli have seen over 100 percent GST collection growth in October 2020 compared to the same month last year. However, Daman and Diu, Lakshadweep, Andaman, and Nicobar Islands have seen negative growth between 40-90 percent.
