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of <h1>October gross GST collections rise 4.6% to Rs 1.96 lakh crore after rate cut, refunds surge 39.6%</h1> Gross goods and services tax collections rose 4.6% year-on-year to about Rs 1.96 lakh crore in October, reflecting festive buying after a statutory GST rate reduction on 375 items effective September 22. Local GST receipts grew about 2% to Rs 1.45 lakh crore and import-related tax rose ~13% to Rs 50,884 crore, while refunds increased 39.6% to Rs 26,934 crore. Net GST revenue was Rs 1.69 lakh crore, a 0.2% YoY increase. The data indicate rate cuts and timing of consumer purchases materially affected gross receipts, refunds and net mop-up.
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