News Karnataka
Sunday, January 23 2022

Economy

Nov GST collection rises to over Rs 1.31 lakh Cr

Nov GST collection rises to over Rs 131 lakh Cr

New Delhi: India’s Nov GST collection rose on both sequential and year-on-year basis.

Accordingly, the gross Nov GST collection rose to Rs 1,31,526 crore.

This was the second straight month when the gross GST collection crossed Rs 1.30 lakh crore.

Besides, the GST revenue for November 2021 was 25 per cent higher than the corresponding period of last year and 27 per cent over the like month of 2019-20.

As per the Ministry of Finance, out of the total gross collection, CGST’s share was Rs 23,978 crore, SGST was Rs 31,127 crore, IGST about Rs 66,815 crore and Cess was Rs 9,606 crore.

“The Nov GST revenues have been the second highest ever since the introduction of GST, second only to that in April 2021, which related to year-end revenues and higher than last month’s collection, which also included the impact of returns required to be filed quarterly,” the ministry said.

“This is very much in line with the trend in economic recovery.”

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