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Rs 1, 03,492 crore gross GST revenue collected in Nov 2019
Economy

Rs 1, 03,492 crore gross GST revenue collected in Nov 2019

Agency News

New Delhi, Dec 1 : The gross Goods and Services Tax (GST) revenue collected in November 2019 is Rs 1,03,492 crore, of which Central Goods and Services Tax (CGST) is Rs 19,592 crore, State Goods & Services Tax (SGST) is Rs 27,144 crore and Integrated Goods and Services Tax (IGST) is Rs 49,028 crore.

IGST included Rs 20,948 crore collected on imports and Cess was Rs 7,727 crore (including Rs 869 crore collected on imports).

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, according to Finance Ministry statement on Sunday. Also, November 2019 collection is the third highest monthly collection since introduction of GST, next only to April 2019 and March 2019 collections. The total number of GSTR 3B Returns filed for the month of October up to November 30, 2019 is 77.83 lakh.

The government has settled Rs 25,150 crore to CGST and Rs 17,431crore to SGST from IGST as regular settlement. The total revenue earned by 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.

After two months of negative growth, GST revenues witnessed an impressive recovery with a positive growth of 6 per cent in November, 2019 over the November, 2018 collections. During the month, the GST collection on domestic transactions witnessed a growth of 12 per cent, highest during the year. The GST collection on imports continued to see negative growth at (-)13per cent, but was an improvement over last month’s growth of (-)20 per cent. (UNI)