At Rs 1.45 lakh crore, GST collections rise 11% year-on-year in November


NEW DELHI: Centre’s goods and services tax (GST) collection stood at Rs 1.45 lakh crore for the month of November. The revenue collected is 11% higher than the GST receipts in the same month last year.
This is the 9th month in a row when GST collections have crossed Rs 1.40 lakh crore-mark.
However, the collection in November was the lowest since August.
In October, GST collections had touched the second-highest level of Rs 1.52 lakh crore on festive spending.

Of the total revenue collected, central goods and services tax (CGST) is Rs 25,681 crore, state goods and services tax (SGST) is Rs 32,651 crore, integrated goods and services tax (IGST) is Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and Cess is Rs 10,433 crore (including Rs 817 crore collected on import of goods), the ministry of finance said in an official release.
During the month, revenues from import of goods was 20% higher and the revenues from domestic transaction (including import of services) are 8% higher than the revenues from these sources during the same month last year.
N A Shah Associates, partner, indirect tax, Parag Mehta told PTI that the major factors for the increase in collections are the festive and wedding seasons.
“There has also been a major increase in sales for real estate and vehicle markets. Overall, there is substantial spending by consumers. Further, the authorities have been cracking down on tax evaders, defaulters, fake invoice instances etc,” Mehta said.
(With inputs from agencies)

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