GST collections for October crossed the Rs 1 lakh crore mark, with the finance ministry attributing the jump to lower rate, lesser evasion, higher compliance, and negligible interference from taxation authorities.
This jump is a first for this fiscal year. The finance ministry has targeted monthly GST collections to be Rs 1 lakh crore for this fiscal, but the actual mop-up has fallen short of the target month after month. The sole exception was the month of April in which the numbers exceeded Rs 1 lakh crore.
The collections stood at Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August and Rs 94,442 crore in September. >