Rs 1.03 lakh Cr GST collected in Nov, 3rd highest ever, domestic revenue grows 12%: Fin Min

New Delhi: After two months of negative growth, GST revenues witnessed a recovery with a positive growth of 6% in November 2019 over the November 2018 collections as the Ministry of Finance revealed today that gross GST revenue collected in November is Rs 1,03,492 crore. During the month, the GST collection on domestic transactions witnessed a growth of 12%, highest during the year, while GST collection on imports continued to see negative growth, falling by 13%, which was still an improvement over last month’s drop of 20%.

Despite that, November 2019 collection is the third highest monthly collection since GST was introduced, next only to April 2019 and March 2019collections. This is also the eighth time since the inception of GST in July 2017 that monthly collection has crossed the mark of Rs one lakh crore.

Of the Rs 1,03,492 crore collected 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).

The total number of GSTR 3B Returns filed for the month of October up to 30 November is 77.83 lakh.

The Government has settled Rs 25,150 crore to CGST and Rs 17,431 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of November, 2019 is Rs 44,742 crore for CGST, and Rs 44,576 crore for SGST.

The chart below from the Finance Ministry shows trends in revenue during the current financial year.

Over Rs 1 lakh Cr GST collected in Nov 3rd highest ever domestic revenue grows 12 Fin Min | Indus Dictum

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The ID Staff

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