GST revenue crosses Rs 1 lakh crore mark in November

Gross GST collections stood at Rs 1.03 lakh crore in November, marginally up from the previous month, official data showed on Sunday. GST collections have crossed Rs  1 lakh crore mark after three months. In July, the GST collections stood at Rs 1.02 lakh crore.

After two months of negative growth, GST revenues have witnessed an impressive recovery with a positive growth of 6 per cent in November, 2019 over the November, 2018 collections.

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This is the eighth time since the inception of GST in July 2017 that monthly collection has crossed the mark of Rs one lakh crore. Also, November 2019 collection is the third highest monthly collection since introduction of GST, next only to April 2019 and March 2019 collections. In April this year, the GST collection was recorded Rs 1.13 lak crore and in March, it was Rs 1.06 lak crore.

Gross GST revenue collected in October was Rs 95,380 crore. In September, the collection was Rs 91,916 crore and tax collection in August was Rs 98,202 crore.

Furthermore, the November's CGST stood at Rs 19,592 crore, SGST was Rs 27,144 crore, IGST was Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess was recorded Rs 7,727 crore (including  Rs 869 crore collected on imports). The total number of GSTR 3B Returns filed for the month of October up to 30th November, 2019 was 77.83 lakh.

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