GST revenue at over Rs 1.3 trn in Oct; second highest so far: Govt

Revenues for October 2021 are 24 per cent higher than the GST revenues in the same month last year.

GST collections in October stood at Rs 1,30,127 crore of which CGST is Rs 23,861 crore, SGST Rs 30,421 crore, IGST is Rs 67,361 crore (including Rs 32,998 crore collected on import of goods) and cess Rs 8,484 crore (including Rs 699 crore collected on import of goods), said the statement. 

In another sign of recovery, manufacturing activity accelerated to an eight-month high in October amid festival, showed IHS Markit Purchasing Managers Index (PMI) survey.

PMI rose to 55.9 in October from 53.7 in the previous month. The reading in October was the highest since February.

Firms stepped up input purchase amid stock-building efforts and in anticipation of further improvements in demand, while business optimism hit a 6-month high.