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GST Collection At Rs 1.05 Lakh Crore In November – Unblendednews

GST Collection At Rs 1.05 Lakh Crore In November


GST Collection At Rs 1.05 Lakh Crore In November

The government said on Tuesday that it collected goods and services tax (GST) amounting to Rs 1,04 lakh crore in November. The GST revenue was Rs 1.05 lakh crore in October, making it two successive months wherein the GST revenue has topped the Rs 1 lakh crore mark. The collection in November 2020 is 1.4 per cent higher than in November 2019 when the GST mop-up was Rs 1,03,491 crore.

The GST in November this year included central GST (CGST) of Rs 19,189 crore, state GST (SGST) of Rs 25,540 crore and integrated GST (IGST) of Rs 51,992 crore and cess of Rs 8,242 crore.

“During the month, revenues from import of goods were 4.9 per cent higher and the revenues from domestic transaction (including import of services) are 0.5 per cent higher than the revenues from these sources during the same month last year,” the finance ministry said in a statement.

GST revenue had topped Rs 1 lakh crore in 8 out of 12 months of 2019-20. However, in the current fiscal, the revenue has taken a hit due to the lockdown and the consequent slowdown in the economy. Revenue in April was Rs 32,172 crore, May (Rs 62,151 crore), June (Rs 90,917 crore), July (Rs 87,422 crore), August (Rs 86,449 crore) and September (Rs 95,480 crore).


The total number of GSTR-3B returns filed for the month of November stood at 82 lakh.

The government has settled Rs 22,293 crore to CGST and Rs 16,286 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 2020 is Rs 41,482 crore for CGST and Rs 41,826 crore for the SGST.


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