passenger vehicle – The News Desk

Helped by strong festival-season demand and momentum in the economy, domestic passenger vehicle (PV) sales reached a new peak for a third consecutive month in October, while the goods and services tax (GST) collection surged to the second-highest ever. But there were some concerns regarding manufacturing activity and joblessness, especially in rural India. While the monthly PV wholesale number at 391,472 units in October, up 16.3 per cent year-on-year (Y-o-Y), topped the record of 363,733 units set in September, the GST mop-up at Rs 1.72 trillion, an increase of 13 per cent Y-o-Y, lagged only the high of Rs 1.87 trillion reached in April this year. UPI transactions also saw their highest ever value in October at Rs 17.16 trillion, up 9 per cent from Rs 15.8 tr...

Ahead of the peak festival season, the figures for domestic passenger vehicle (PV) sales and goods and services tax (GST) collection suggested a healthy macroeconomic scenario prevailing in the country. While the monthly PV wholesales number at 363,733 units in September was a record high, the GST mop-up at Rs 1.62 trillion, up 10.2 per cent year-on-year (Y-o-Y), was the third highest. The average monthly gross GST collection at Rs 1.65 trillion in the first six months of 2023-24 was 11 per cent higher than in H1FY23. UPI transactions, too, breached the 10 billion mark for a second consecutive month, but the 10.56 billion count was slightly lower than in August; the value of such transactions at Rs 15.8 trillion, however, was marginally higher. ...

Tag: passenger vehicle

Festival season momentum light up domestic PV sales, GST collection

Passenger vehicle sales race to new high, GST mop-up above Rs 1.6 trillion