- The GST collection was ₹95,380 crore in October while it was ₹97,637 crore November 2018
- The positive growth, a possible sign of recovery, has come after two months of negative growth.
NEW DELHI : Goods and Services Tax (GST) revenue collection crossed the ₹1 trillion mark after a gap of three months in November with the revenue growing by 6% to ₹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 ₹95,380 crore in October while it was ₹97,637 crore November 2018. Of gross ₹1,03,492 crore in November, CGST is ₹19,592 crore, SGST is ₹27,144 crore, IGST is ₹49,028 crore (including ₹20,948 crore collected on imports) and Cess is ₹7,727 crore (including ₹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 ₹trillion. Also, November 2019 collection is the third highest monthly collection since introduction of GST, next only to April 2019 and March 2019 collections.