GST Collection Rises 11 Per Cent To Over Rs 1.45 Lakh Crore In November

The gross Goods and Services Tax (GST) revenue collected in the month of November is Rs 1,45,867 crore, which is 11 per cent higher than the GST collection in November last year, according to a Finance Ministry statement on Thursday (1 December).

Out of the Rs 1.45 lakh crore GST revenue collection, Central GST is Rs 25,681 crore, State GST is Rs 32,651 crore, Integrated GST is Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and Cess is Rs 10,433 crore (including Rs 817 crore collected on import of goods).

The Finance Ministry said that the government has settled Rs 33,997 crore to CGST and Rs 28,538 crore to SGST from IGST as regular settlement.

In addition, Centre had also released Rs 17,000 crore as GST compensation to States/UTs in November, the ministry said.

"The revenues for the month of November 2022 are 11 per cent higher than the GST revenues in the same month last year, which itself was Rs 1,31,526 crore," the ministry said.

During the month, revenues from import of goods were 20 per cent higher and the revenues from domestic transaction (including import of services) were 8 per cent higher than the revenues from these sources during the same month last year, it added.