In a positive sign for the Indian economy, the Goods and Services Tax (GST) collections for September 2023 increased by 6.5% year-on-year, totaling ₹1.73 lakh crore. This marks a rise from ₹1.63 lakh crore collected in September of the previous year. The net GST collection after refunds stood at ₹1.53 lakh crore, showing a growth of 4% compared to ₹1.47 lakh crore in September 2022.

So far this fiscal year, the government has recorded a gross GST revenue of ₹10.87 lakh crore, which is 9.5% higher than the collections in the same period last year (April-September). This upward trend in GST collections indicates robust economic activity and improved compliance, providing a boost to the government's fiscal position.