GST revenue collections touch ₹1,45,867 crore in November, up 11% y-o-y

New Delhi, December 1, 2022

The gross Goods and Service Tax (GST) revenue collected in the month of November 2022 stood at ₹1,45,867 crore, 11 per cent higher than the revenues of Rs 1,31,526 crore in the same month of last year.

An official press release said the amount included Central GST (CGST) of ₹25,681 crore, State GST (SGST) of ₹32,651 crore, Integrated GST (IGST) of ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess of ₹10,433 crore (including ₹817 crore collected on import of goods).

The release said the Central Government had settled ₹33,997 crore to CGST and ₹28,538 crore to SGST from IGST as regular settlement.

The total revenue of Centre and the States after regular settlements in the month of November 2022 is ₹59,678 crore for CGST and ₹61,189 crore for the SGST.

In addition, the Centre had also released ₹17,000 crore as GST compensation to States/UTs in November 2022.

During the month, revenues from import of goods was 20% higher and the revenues from domestic transaction (including import of services) are 8% higher than the revenues from these sources during the same month last year, the release said.

Monthly GST revenues have been more than ₹1.4 lakh crore for nine straight months in a row now, it added.

NNN