GST collection revenue crosses the 1 lakh crore mark in November

Published: Dec 02, 2019, 14:20 IST | mid-day online correspondent |

This is the eighth time that an above Rs 1 lakh crore collection has been recorded

This image has been used for representational purposes only
This image has been used for representational purposes only

The NDA government climbed a step-up in the collection of Goods and Services tax(GST) in November. According to the data released by the Ministry of Finance, the government collected Rs 1,03,492 crore, the breakup of which is 19,592 crore was CGST, IGST collections stood at Rs 49,028 crore, SGST at Rs 27,144 crore and cess collection was at Rs 7,727 crore.

According to a report in India Today, the return of collections in the above Rs 1 lakh crore range indicates a growth of 6 per cent in the GST revenue compared to the corresponding to November 2018.

This is the eighth time that an above Rs 1 lakh crore collection has been recorded. After GST kicked in from July 2017, the highest collections were made in April 2019 and in March 2019.

According to the government data, the net tax receipt in the April-October period was Rs 6.83 trillion, while the total expenditure was Rs 16.55 trillion.

Gross GST revenue collected in October had gone down to Rs 95,380 crore. This led to a 5.3 per cent decline on a year on year basis, while September collection was a mere Rs 91,916 crore. The September collection was the lowest since February 2018. The tax collection in August stood at Rs 98,202 crore.

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