GST collection surges 11% yoy to Rs1.46 lakh crore in November 2022: Centre

2 Dec 2022 , 08:30 AM

The gross GST revenue collected in the month of November 2022 is stood at Rs1,45,867 crore of which CGST is Rs25,681 crore, SGST is Rs32,651 crore, IGST is Rs77,103 crore (including Rs38,635 crore collected on import of goods) and Cess is Rs10,433 crore (including Rs817 crore collected on import of goods).

Accordingly, the government has settled Rs33,997 crore to CGST and Rs28,538 crore to SGST from IGST as regular settlement.

The total revenue of Centre and the States after regular settlements in the month of November 2022 is Rs59678 crore for CGST and Rs61189 crore for the SGST.

In addition, Centre had also released Rs17,000 crore as GST compensation to States/UTs in November 2022.

The revenues for the month of November 2022 are 11% higher than the GST revenues in the same month last year, which itself was Rs1.31,526 crore.

During the month, revenues from import of goods was 20% higher and the revenues from domestic transaction (including import of services) are 8% higher than the revenues from these sources during the same month last year.

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