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.
The total revenue of Centre and the States after regular settlements in the month of November is Rs 59,678 crore for CGST and Rs 61.189 crore for the SGST.
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.
- Finance Ministry ,
- GST ,
- CGST ,
- IGST ,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.