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GST collection crosses Rs 1 lakh crore mark in November

GST collection crosses Rs 1 lakh crore mark in November

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  2 Dec 2019 2:00 PM GMT

New Delhi: Festive season demand helped the government collect Rs 1.03 lakh crore in goods and services tax (GST) in the month of November, up 6 percent over the same month last year.

The positive growth, a possible sign of recovery, has come after two months of negative growth. During the month of November, the GST collection on domestic transactions witnessed a growth of 12 percent, highest during the year. The GST collection on imports continued to see negative growth at (-)13 percent.

“The gross GST revenue collected in the month of November 2019 is Rs 1,03,492 crore of which 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),” a Finance Ministry statement said. The total number of GSTR 3B Returns, summary monthly returns, filed for the month of October up to November 30, 2019, was 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 the Central Government and the State Governments after regular settlement in the month of November 2019 is Rs 44,742 crore for CGST and Rs 44,576 crore for the SGST,” the Finance Ministry said. (IANS)

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