National Affairs

Government Collects Over Rs 1.04 Lakh Crore GST Revenue In November

The goods and services tax (GST) collections for the month of November stood at Rs 1,04,963 crore, 1.4 per cent higher than the revenues in the same period last fiscal, ministry of finance said in an official release on Tuesday. This is the second straight month in the current fiscal when GST revenue has topped Rs 1 lakh crore. The gross GST revenue collected in the month of November, 2020 is Rs 1,04,963 crore of which CGST (central goods and services tax) is Rs 19,189 crore, SGST (state goods and services tax) is Rs 25,540 crore, IGST (integrated goods and services tax) is Rs 51,992 crore (including Rs 22,078 crore collected on import of goods) and cess is Rs 8,242 crore (including Rs 809 crore collected on import of goods), the statement said. While, the total number of GSTR-3B returns filed rose from 80 lakh in October to 82 lakh till November 30. During the month, revenues from import of goods was 4.9 per cent higher and the revenues from domestic transaction (including import of services) were 0.5 per cent higher than the revenues from these sources during the same month last year. GST revenue had topped Rs 1 lakh crore in 8 out of 12 months of 2019-20. However, in the current fiscal, the revenue has taken a hit due to the lockdown and the consequent slowdown in the economy. It had crossed the Rs 1 lakh crore-mark after eight months in October.

 

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