India's October net goods and services tax collection rises 25.6% year-on-year

Business Recorder reported that India received 2.03 trillion rupees in net goods and services tax during October, according to a government statement issued on Sunday. The amount was 25.6% higher than in the same month a year earlier. The report presents the net figure as a national collection total, rather than identifying contributions by individual industries or companies.

The statement also put October’s gross tax receipts at 2.31 trillion rupees, an annual increase of 22.9%. Gross collections were therefore reported alongside a faster year-on-year rise in the net total, although the item provides no further breakdown or explanation for the difference. For Pakistani investors, these figures are a reported indicator of tax collection in a neighbouring major economy; the report does not describe a direct effect on Pakistan or the PSX.