Finance
Gross GST collections increased by 8.5% to more than Rs 1.82 lakh crore in November, owing to increasing earnings from domestic activities.
According to government data provided on Sunday, the central GST collection was Rs 34,141 crore, the state GST was Rs 43,047 crore, the integrated IGST was Rs 91,828 crore, and the cess was Rs 13,253 crore.
The total gross Goods and Services Tax (GST) revenue increased by 8.5% in November to more than Rs 1.82 lakh crore, up from Rs 1.68 lakh crore in the same month last year, according to the report.
GST revenues of Rs 1.87 lakh crore in October were the second-best GST mop-up, growing by 9% year on year. In April 2024, the highest-ever collection of almost Rs 2.10 lakh crore was recorded.
During the month under review, GST from domestic transactions increased by 9.4% to Rs 1.40 lakh crore, while tax on imports increased by around 6% to Rs 42,591 crore.
Refunds totaling Rs 19,259 crore were issued this month, representing an 8.9 percent decrease from the previous year.
After correcting for refunds, net GST revenue grew by 11% to Rs 1.63 lakh crore.
Source:IE
