Tuesday , October 26 2021

GST collection witnesses growth of 6% at Rs 1.03 lakh crore in November

With robust festive season demand, the Goods and Services Tax (GST) collection has witnessed an impressive recovery with a positive growth of 6% to Rs 1.03 lakh crore in November 2019 over November 2018 collection. The revenue collection has crossed the Rs 1 lakh crore mark after a gap of three months in November. The GST collection had stood at Rs 97,637 crore in the same month last year, while revenue collection under this head was Rs 95,380 crore in October.

Of gross Rs 1,03,492 crore in November, CGST is Rs 19,592 crore, SGST is Rs 27,144 crore, IGST is Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess is Rs 7,727 crore (including Rs 869 crore collected on imports). The November 2019 collection is the third highest monthly collection since the introduction of GST, next only to April 2019 and March 2019 collections. This is the eighth time since the inception of GST in July 2017 that monthly collection has crossed the mark of Rs 1 lakh crore.

The GST collection on imports continued to see negative growth at (-)13%, but was an improvement over last month’s growth of (-)20%. The total number of GSTR 3B Returns filed for the month of October up to November 30, 2019 is 77.83 lakh. The government has settled Rs 25,150 crore to CGST and Rs 17,431 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of November is Rs 44,742 crore for CGST and Rs 44,576 crore for the SGST.

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