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GST Collection Stood At Rs 1.05 Lakh Crore In November

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GST Collection Stood At Rs 1.05 Lakh Crore In November

The whole variety of GSTR-3B returns filed for the month of November stood at 82 lakh

The authorities mentioned on Tuesday that it collected items and companies tax (GST) amounting to Rs 1,04 lakh crore in November. The GST revenues had been Rs 1.05 lakh crore in October, marking two successive months whereby the GST revenues have topped the Rs 1 lakh crore mark. The assortment in November 2020 is 1.four per cent greater than in November 2019 when the GST mop-up figures had been Rs 1,03,491 crore.

The GST assortment in November this 12 months included central GST (CGST) of Rs 19,189 crore, state GST (SGST) of Rs 25,540 crore and built-in GST (IGST) of Rs 51,992 crore and cess of Rs 8,242 crore.

“During the month, revenues from import of goods were 4.9 per cent higher and the revenues from domestic transaction (including import of services) are 0.5 per cent higher than the revenues from these sources during the same month last year,” the finance ministry mentioned in an announcement.

The GST revenues had topped Rs 1 lakh crore in Eight out of 12 months of FY 2019-20. However, within the present fiscal, the revenues have taken a success as a result of lockdown and resultant slowdown within the financial system. The revenues in April had been Rs 32,172 crore, May (Rs 62,151 crore), June (Rs 90,917 crore), July (Rs 87,422 crore), August (Rs 86,449 crore) and September (Rs 95,480 crore).

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The authorities has offered Rs 22,293 crore to CGST and Rs 16,286 crore to SGST from IGST as common settlement. The whole revenues earned by the central authorities and state governments after the common settlement in November 2020 is Rs 41,482 crore for CGST and Rs 41,826 crore for SGST.

The whole variety of GSTR-3B returns filed for the month of November stood at 82 lakh.

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