November GST collection stands at Rs 1.46 lakh crore

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According to the data shared by the Finance Ministry on Thursday, GST collections in the month of November stood at around Rs 1.46 lakh crore, which is 11% higher than the year-ago period.

Goods and Services Tax (GST) collections touched a record high of about Rs 1.68 lakh crore in April. The second highest collection was Rs 1.52 lakh crore in October.

“The gross GST revenue for the month of November 2022 is Rs 1,45,867 crore, including CGST Rs 25,681 crore, SGST Rs 32,651 crore, IGST Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and Cess Rs 10,433 crore ( 817 crore collected on import of goods),” the finance ministry said in a statement.

The ministry said on Thursday that the monthly GST revenue has been over Rs 1.4 lakh crore for nine consecutive months.

Government has settled Rs 33,997 crore to CGST and Rs 28,538 crore to SGST from IGST as regular settlement. Besides SGST, the Center had also released Rs 17,000 crore as GST compensation to the States/UTs in November 2022.

“The revenue for the month of November 2022 is 11% higher than the GST revenue in the same month last year at Rs 1,31,526 crore. During the month, revenue from import of goods was 20% higher and revenue from domestic transactions- (including import of services) is 8% higher than the revenue from these sources during the same month last year,” the ministry said.

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