GST collection for Nov slips 4% from Oct, down to Rs 1.45 lakh cr

Revenues from import of goods were 20 per cent higher and revenues from domestic transaction (including import of services) were 8 per cent higher than the same month last year.

IANSUpdated: Thursday, December 01, 2022, 04:30 PM IST
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GST collection for Nov slips 4% from Oct, down to Rs 1.45 lakh cr | Picture for Representation/ File image

GST collections for November stood at Rs 1,45,867 crore, which were up by 11 per cent year-on-year, according to data released by the Finance Ministry on Thursday.

Monthly GST revenues have been more than Rs 1.4 lakh crore for nine straight months now.

Revenue from Import

Revenues from import of goods were 20 per cent higher and revenues from domestic transaction (including import of services) were 8 per cent higher than the same month last year.

GST in November

The gross GST revenue collected in November 2022 were Rs 1,45,867 crore of which CGST was 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 (including Rs 817 crore collected on import of goods).

Government settlement

The government has settled Rs 33,997 crore to CGST and Rs 28,538 crore to SGST from IGST as regular settlements.

The total revenue of the Centre and states after regular settlements November was Rs 59,678 crore for CGST and Rs 61,189 crore for the SGST.

In addition to this, the Centre had also released Rs 17,000 crore as GST compensation to states and UTs in November.

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