GST Revenue Rises 4.6% to Rs 1.96 Lakh Crore in October

Contributing sentiments towards policy:

59% : While corporate tax receipts rose to Rs 5.02 lakh crore from Rs 4.91 lakh crore, non-corporate tax collections (including individuals and HUFs) went up to Rs 6.56 lakh crore from Rs 5.94 lakh crore.
57% : The month of October saw robust consumer demand after the September 22 rate cuts towards broader tax and economic reforms.
57% : It is a positive indicator of how both consumption and compliance are moving in the right direction," said Abhishek Jain, Partner and National Head-Indirect Tax, KPMG in India.
56% : Meanwhile, India's net direct tax revenue climbed 6.33 per cent to over Rs 11.89 lakh crore in the current fiscal year (till October 12).
56% : This performance was driven by stronger corporate tax collections and slower refund payouts.
51% : The data further showed that after deducting refunds, the government's net tax collections stood at Rs 1.69 lakh crore, 0.6 per cent more last month than in October 2024.
35% : The Income Tax Department said that total gross direct tax collection stood at Rs 13.92 lakh crore, up from Rs 13.60 lakh crore during the same period last fiscal.

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