GST collection crosses Rs 1.30 lakh crore in November, at one to highest ever, CFO News, ETCFO

By: Nikhil Agrawal
GST collection crosses Rs 1.30 lakh crore in November, at one to highest everThe Ministry of Finance said today that it will raise $ 1,31,526 for goods and services in November.

“For the second consecutive month, gross GST collection crosses Rs 1.30 lakh crore. Revenue for the month of November 2021 is 25% higher than GST revenue in the same month last year and 27% over 2019-20,” the release said.

The recent trend of high GST revenues is a result of various policy and administrative measures taken in the past to improve compliance, the ministry said.

The GST revenues for November are the second-highest ever since the regime’s introduction, after the collections were surpassed in October. The highest collections were recorded in April.

“The GST collection figures linked to the economic growth figures recently reported indicate that the collections are now stabilized at a level that allows the GST revenue targets for FY22 to be exceeded,” said MS Mani, Partner at Deloitte India .

The total collection of November, includes Rs 23,978 crore as CGST, Rs. 31,127 crore as SGST and Rs. 66,815 crore as IGST.


Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/rvpgmedi/public_html/wp-includes/functions.php on line 5275