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GST collections cross Rs 1 lakh crore mark for second month in a row

The gross GST collections for November stood at Rs 1.04 lakh crore, 1.4 percent higher than the sum collected in the same month last year

December 02, 2020 / 06:31 PM IST

The gross Goods and Services Tax (GST) collection for November stood at Rs 1.04 lakh crore, 1.4 percent higher than the sum collected in the same month last year, according to a government statement.

Of this, Central GST (CGST) collected was Rs 19,189 crore, State GST (SGST) Rs 25,540 crore, Integrated GST (IGST) was Rs 51,992 crore.

IGST included Rs 22,078 crore collected on import of goods and Rs 8,242 crore in cess (including Rs 809 crore collected on import of goods).

The total of 82 lakh GSTR-3B returns were filed till November 30.

The government has settled Rs 22,293 crore to CGST and Rs 16,286 crore to SGST from IGST as regular settlement. The total revenue earned by the central government and the state governments after regular settlement in the month of November 2020 was Rs 41,482 crore for CGST and Rs 41,826 crore for the SGST.

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During the month, revenues from import of goods were 4.9 percent higher and the revenues from domestic transactions (including import of services) were 0.5 percent higher than the revenues from these sources during the same month last year.

Last month, GST collections were at Rs 1.05 lakh crore, making it the first time monthly revenues crossed the Rs 1 lakh crore mark in FY21.
Moneycontrol News
first published: Dec 1, 2020 02:31 pm
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