<h1>GST Collection Hits Rs. 1.72 Lakh Crore in October 2023, Second-Highest Ever, with a 13% Year-on-Year Growth.</h1> GST revenue collection for October 2023 reached Rs. 1.72 lakh crore, marking the second-highest collection ever, following April 2023. This represents a 13% increase year-on-year. Revenue from domestic transactions, including import services, also rose by 13% compared to the previous year. The average gross monthly GST collection for FY 2023-24 is Rs. 1.66 lakh crore, 11% higher than the previous fiscal year. The government settled Rs. 42,873 crore to CGST and Rs. 36,614 crore to SGST from IGST. Post-settlement, the total revenue for the Centre and States in October 2023 was Rs. 72,934 crore for CGST and Rs. 74,785 crore for SGST.