GST collection grows at slower pace of 4.6 pc in October at Rs 1.96 lakh cr after tax cuts
GST
Dated:- 1-11-2025
PTI
New Delhi, Nov 1 (PTI) Festive buying spree unleashed by lower tax rates pushed gross GST collection to about Rs 1.96 lakh crore in October, registering a 4.6 per cent year-on-year growth the slowest rate so far this fiscal.
The slowest pace of revenue growth in October comes after Goods and Services Tax (GST) rates on 375 items, from kitchen staples to electronics and automobiles, were slashed with effect from September 22 the first day of Navratri.
According to the government data released on Saturday, gross GST mop-up in October was about Rs 1.96 lakh crore, a 4.6 per cent higher over Rs 1.87 lakh crore c
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di in his Independence Day speech had announced that GST rates will be cut ahead of Diwali. The rate cut was, however, implemented with the onset of Navratri.
As per the data, GST refunds jumped 39.6 per cent year-on-year in October to Rs 26,934 crore.
Net GST revenue, after adjusting refunds, stood at Rs 1.69 lakh crore in October 2025, recording 0.2 per cent YoY growth.
Price Waterhouse & Co LLP Partner Pratik Jain said despite massive rate cuts effective from September 22, a slight increase in domestic GST collection shows that demand is steadily increasing.
“Consistent increase in GST refunds (domestic as well as exports) shows confidence of tax administration that GST collections would show positive trend in future as well,” Ja
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Tax Connect Advisory Services Partner Vivek Jalan said the growth in collections by 4.6 per cent re-affirm that the boost in consumption has, to an extent, balanced the de-growth in revenue due to the tax rate cuts.
According to Jalan, the sustained buoyancy in receipts despite significant rate-rationalisation underscores that the reforms are stimulating consumption rather than constraining it. Also, refund disbursements surged nearly 40 per cent YoY, which is a clear indication of improved compliance discipline and smoother credit flows for business.
“Meanwhile, import-linked IGST inflows rose nearly 13 per cent, signalling healthy demand for raw materials and capital goods and pointing to a strong industrial output cycle. Major stat
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