GST collection for Nov rises 8.5% on-year to ₹1.82 trillion

Festive demand drove GST collections up in November, though it stood below October level

- Rhik Kundu

Driven by festive demand, the Goods and Services Tax (GST) collections for the Union and state governments climbed to ₹1.82 trillion in November, marking an 8.5% year-on-year growth, according to official data released on Sunday.

Sequentially, however, the latest collection figures are lower than the ₹1.87 trillion reported in October, which was the second highest reported so far since the new indirect tax regime was introduced in 2017.

The highest-ever GST collection of ₹2.1 trillion was reported in April.

The consumption tax figures highlight the positive impact of the recent festive season on goods purchases, providing a much-needed boost the industry had been anticipating.

The tax collected in November reflects transactions conducted in October.

The uptick in GST collections driven by festive demand had been anticipated by policymakers, who remain optimistic about sustained growth in rural consumption and an improvement in urban demand.