GST Revenue collection up 6% in November

This is the eighth time since the inception of GST in July 2017 that monthly collection has crossed the mark of Rs1lakh cr.

Dec 02, 2019 02:12 IST India Infoline News Service

Goods and Services Tax, GST
The gross GST revenue collected in November 2019 is Rs1.03 lakh cr of which CGST is Rs19,592cr, SGST is Rs27,144cr, IGST is Rs49,028cr (including Rs20,948cr collected on imports) and Cess is Rs7,727cr (including Rs869cr collected on imports). The total number of GSTR 3B Returns filed for October up to November 30, 2019, is 77.83 lakh.

This is the eighth time since the inception of GST in July 2017 that monthly collection has crossed the mark of Rs1lakh cr.

Also, November 2019 collection is the third-highest monthly collection since the introduction of GST, next only to April 2019 and March 2019 collections.

The government has settled Rs25,150cr to CGST and Rs17,431cr to SGST from IGST as regular settlement. The total revenue earned by the Central Government and the State Governments after regular settlement in November 2019 is Rs44,742cr for CGST and Rs44,576cr for the SGST.

After two months of negative growth, GST revenues witnessed an impressive recovery with a positive growth of 6% in November 2019 over the November 2018 collections. During the month, the GST collection on domestic transactions witnessed a growth of 12%, highest during the year. The GST collection on imports continued to see negative growth at (-)13% but was an improvement over last month’s growth of (-)20%. 

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