GST collection shoots to ₹1.31 lakh cr in Nov, second highest since rollout

Goods and Services Tax (GST) collection jumped to more than ₹1.31 lakh crore in November, the second highest since its implementation in July 2017, in line with the trend in economic recovery.

“The gross GST revenue collected in the month of November 2021 is ₹1,31,526 crore, of which CGST is ₹23,978 crore, SGST is ₹31,127 crore, IGST is ₹66,815 crore (including ₹32,165 crore collected on import of goods) and cess is ₹9,606 crore (including ₹653 crore collected on import of goods),” the Finance Ministry said in a statement.

CGST refers to Central Goods and Services Tax, SGST (State Goods and Service Tax) and IGST (Integrated Goods and Services Tax).

GST revenue for November 2021 is 25 per cent higher than for November 2020, and 27 per cent higher over November 2019.

“GST revenues for November 2021 have been the second highest ever since introduction of GST, second only to that in April 2021, which related to year-end revenues and higher than last month’s collection, which also included the impact of returns required to be filed quarterly. This is very much in line with the trend in economic recovery,” the ministry said.

In October 2021, the revenue was ₹1,30,127 crore, while in April 2021, it was the highest at over ₹1.41 lakh crore.

Also read: Graphic: October GST hits ₹1.3 lakh crore, second-highest ever

The recent trend of high GST revenue has been a result of various policy and administrative measures that have been taken in the past to improve compliance.

The ministry said that a large number of initiatives undertaken in the last one year like enhancement of system capacity, nudging non-filers after last date of filing of returns, auto-population of returns, blocking of e-way bills and passing of input tax credit for non-filers, has led to consistent improvement in the filing of returns over the last few months.

(With inputs from Agencies)