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GST collection crosses Rs 1 lakh crore mark in November

Date: 02-12-2019
Subject: GST collection crosses Rs 1 lakh crore mark in November
The Goods and Services Tax (GST) revenue collection in November stood at Rs 1.03 lakh crore -- the third highest since its implementation in 2017.

The November 2019 collection saw a 6 percent increase year-on-year, from the same period last year.

While Central GST (CGST) was Rs 19,592 crore, State GST (SGST) was at Rs 27,144 crore in November 2019.

Integrated GST (IGST) collected in November 2019 was Rs 49,028 crore (including Rs 20,948 crore collected on imports). Cess was Rs 7,727 crore.

The revenue from GST has seen a rise after two months of negative growth. The October 2019 collection had fallen 5.3 percent y-o-y. The September 2019 collection was Rs 91,916 crore, the lowest since February 2018.

The previous two highest collections were in April (Rs 1.13 lakh crore) and March 2019 (Rs 1.06 lakh crore).

This is the eighth time that GST collection has crossed Rs 1 lakh crore mark since its introduction in July 2017.

The last time the number exceeded Rs 1 lakh crore was in July 2019.

Source: moneycontrol.com

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