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GST collections rise 11% to Rs 1.46 lakh crore in November

GST collections rise 11% to Rs 1.46 lakh crore in November

GST collections rise 11% to Rs 1.46 lakh crore in November
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By Anand Singha  Dec 1, 2022 4:02:04 PM IST (Published)

This is the ninth straight month when collections from Goods and Services Tax (GST) has remained above Rs 1.40 lakh crore.

The Finance Ministry reported on Thursday that the GST revenue for November increased by 11 percent over the same month last year, reaching around Rs 1.46 lakh crore. This month's GST revenues have exceeded Rs 1.40 lakh crore for the ninth consecutive month.

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In November 2022, the total GST revenue collected was Rs 1,45,867 crore, of which the Central GST was Rs 25,681 crore, the State GST was Rs 32,651 crore, the Integrated GST was Rs 77,103 crore (including Rs 38,635 crore collected on import of goods), and the Cess was Rs 10,433 crore (including Rs 817 crore collected on import of goods).
"The revenues for the month of November 2022 are 11 per cent higher than the GST revenues in the same month last year, which itself was Rs 1,31,526 crore," the ministry said in a statement.
In comparison to the same month last year, the revenue from domestic transactions, which includes the import of services, was up 8 percent and the revenue from the import of goods was up 20 percent.
GST revenue reached a new high of over Rs 1.68 lakh crore in April. The second highest collection was Rs 1.52 lakh crore in October.
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