GST revenue collection for October second highest in history

The GST revenues for October have been the second-highest ever since the introduction of GST, second only to that in April this year.The gross GST revenue collected in the month of October is Rs1,30,127 crore. Out of this amount, the CGST component is  Rs 23,861 crore, SGST is Rs 30,421 crore, IGST isRs  67,361 crore and Cess is Rs 8,484 crore. The revenues for the month of October this year are 24 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 39 per cent higher and the revenues from the domestic transaction are 19 per cent higher than the revenues from these sources during the same month last year.
Finance Ministry said, this is very much in line with the trend in economic recovery. The finance ministry stated that revenues would have been higher if sales of cars and other products had not been impacted by chip shortage. Increased compliance over the previous months aided in the high revenues, the ministry stated. Measures like nil filing through SMS, enabling Quarterly Return Monthly Payment (QRMP) system and auto-population of return are believed to have helped in the collection. Additionally, the GST Council has also taken steps to discourage non-compliant behaviour, like blocking of e-way bills for non-filing of returns, system-based suspension of registration of taxpayers who have failed to file six returns in a row and blocking of credit for return defaulters.