Goods and Services Tax collections rise 4.6 pc in October

Gross GST collection increased 4.6 per cent to about Rs 1.96 lakh crore in October, driven by a festive buying spree despite a cut in GST rates.

Goods and Services Tax (GST) rates on 375 items, including kitchen staples to electronics and automobiles, were slashed with effect from September 22– the first day of Navratri and



considered auspicious for buying new goods.

The October GST collection number reflects the impact of festive season sales and the pent-up demand. Consumers had held back their purchase decision, awaiting a GST rate cut after Prime Minister Narendra Modi, in his Independence Day speech, had announced that GST rates would be cut ahead of Diwali.