Udaipur, November 2, 2024 - October 2024 turned out to be favourable for businesses, especially for automobile companies and the government, because of the festive season. As per reports, October saw the second-highest GST collection ever. Plus this month also witnessed the highest monthly sales of electric cars.

High demand for SUVs led to a new sales record for petrol and diesel cars as well. Increased shopping during the festive season set a new record for UPI transactions. A total of 16.58 billion UPI transactions were recorded this month with a total value of Rs 23.50 lakh crore. This figure is the highest since the inception of UPI in April 2016.

Last month, GST collection exceeded Rs 1.87 lakh crore, the highest after Rs 2.10 lakh crore in April 2024. This is 8.9% higher than last October’s collection of Rs 1.72 lakh crore. GST collection in September 2024 was Rs 1.73 lakh crore. For the current fiscal year, GST collections until October stood at Rs 12,74,442 crore, which is 9.4% higher than last fiscal year’s figure of Rs 11,64,511.

Source: Media Reports