GST revenue crossed 6% in November

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Goods and Services Tax (GST) revenue collection crossed the Rs 1 trillion marks after a gap of three months in November with the revenue growing by 6% to Rs 1.03 trillion in the month.

The positive growth, a possible sign of recovery, has come after two months of negative growth.

The GST collection was Rs 95,380 crore in October while it was Rs 97,637 crore in November 2018. Of gross Rs 1,03,492 crore in November, CGST is Rs 19,592 crore, SGST is Rs 27,144 crore, IGST is Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess is Rs 7,727 crore (including Rs 869 crore collected on imports), an official statement said.

After two months of negative growth, the GST revenue witnessed an impressive recovery with a growth of 6% in November 2019 over the November 2018 collections, it said.

During the month, the GST collection on domestic transactions witnessed a growth of 12%, the highest during the year. The collection on imports continued to see negative growth at (-)13%. it added.

This is the eighth time since the roll-out of GST in July 2017 that monthly collection has crossed the mark of Rs trillion. Also, November 2019 collection is the third-highest monthly collection since the introduction of GST, next only to April 2019 and March 2019 collections.

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