GST revenues rise 11% to Rs 1.46 lakh crore in November

GST revenues rose by 11 per cent to about Rs 1.46 lakh crore in November over the year-ago period, the Finance Ministry said on Thursday.

This is the ninth straight month when collections from Goods and Services Tax (GST) have remained above Rs 1.40 lakh crore.

The gross GST revenue collected in the month of November 2022 is Rs 1,45,867 crore of which Central GST is Rs 25,681 crore, State GST is Rs 32,651 crore, Integrated GST is Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and cess is Rs 10,433 crore (including Rs 817 crore collected on import of goods).

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“The revenues for the month of November 2022 are 11 per cent higher than the GST revenues in the same month last year, which itself was Rs 1,31,526 crore,” the ministry said in a statement.

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

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Revenues from GST had touched a record of about Rs 1.68 lakh crore in April.

The second-highest collection was Rs 1.52 lakh crore in October.

(With Agency inputs)