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October GST Revenue Hits ₹1.96 Lakh Crore Mark as Festive Demand Boosts Collections
GST collections grew 4.
India’s gross GST revenue for October rose 4.6% year-on-year to ₹1.96 lakh crore, supported by strong festive spending and sustained domestic consumption. Despite recent tax rate adjustments, compliance levels remained robust, and e-way bill generation hit a record. Economists attribute the rise to expansion in services and resilient retail sales during the festive cycle. The Finance Ministry noted that steady revenue growth reflects formalization gains and consumption-driven recovery. Analysts expect upcoming months to maintain momentum as government spending accelerates before elections.