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GST Collection Above Rs 1 Lakh Crore For The Second Straight Month

By Staff
|

On Tuesday, the government said that its goods and services tax (GST) collection for the month of November amounted to Rs 1.049 lakh crore, which is 1.4% higher than the same month last year when the GST mop-up was Rs 1,03,491 crore.

It the second straight month that the collection has surpassed the Rs 1 trillion or Rs 1 lakh crore mark.

GST Collection Above Rs 1 Lakh Crore For The Second Straight Month
 

While government's GST revenue had topped Rs 1 lakh crore in 8 out of 12 months in the financial year 2019-20. The revenue took a hit in the current year due to the lockdown and the consequent slowdown in the economy.

In October, the GST collection was Rs 1.051 lakh crore.

It is the third straight month that the collection has risen year-on-year.

November 2020's GST collection 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% higher and the revenues from domestic transaction (including import of services) are 0.5% higher than the revenues from these sources during the same month last year," the finance ministry said in a statement.

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

Read more about: gst
Story first published: Tuesday, December 1, 2020, 15:35 [IST]
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