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Gross GST collection at Rs1,31,526cr in November, registering second highest since implementation

The gross GST revenue collected in the month of November 2021 is Rs1,31,526cr of which CGST is Rs23,978cr, SGST is Rs31,127cr.

December 02, 2021 9:50 IST | India Infoline News Service
Goods and Services Tax, GST
For the second straight month, gross GST collection crossed Rs1.30 lakh crore. The revenues for the month of November 2021 are 25% higher than the GST revenues in the same month last year and 27% over 2019-20.

During the month, revenues from the import of goods were 43% higher and the revenues from the domestic transaction (including import of services) are 20% higher than the revenues from these sources during the same month last year, as per the Ministry of Finance.

The gross GST revenue collected in the month of November 2021 is Rs1,31,526cr of which CGST is Rs23,978cr, SGST is Rs31,127cr, IGST is Rs66,815cr (including Rs32,165cr collected on import of goods) and Cess is Rs9,606cr (including Rs653cr collected on import of goods).

The GST revenues for November 2021 have been the second highest ever since introduction of GST, second only to that in April 2021, which related to year-end revenues and higher than last month’s collection, which also included the impact of returns required to be filed quarterly. This is very much in line with the trend in economic recovery.

The government has settled Rs27,273cr to CGST and Rs22,655cr to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2021 is Rs51251cr for CGST and Rs53,782cr for the SGST. Centre has also released Rs17,000cr to States/UTs towards GST compensation on 03.11.2021.

The recent trend of high GST revenues has been a result of various policy and administrative measures that have been taken in the past to improve compliance. Central tax enforcement agencies, along with the State counterparts have detected large tax evasion cases, mainly cases relating to fake invoices, with the help of various IT tools developed by GSTN that use the return, invoice and e-way bill data to find suspicious taxpayers.

A large number of initiatives undertaken in the last one year like, enhancement of system capacity, nudging non-filers after last date of filing of returns, auto-population of returns, blocking of e-way bills and passing of input tax credit for non-filers has led to consistent improvement in the filing of returns over the last few months.

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