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Net GST mopup rises 11% in Nov amid drop in refunds
Business Standard
|December 02, 2024
Gross collection grows 8.5% to ₹1.8 trillion
Net goods and services tax (GST) collections rose by 11.1 per cent year-on-year (Y-o-Y) to ₹1.63 trillion in November amid a sharp drop in refunds, according to provisional data released by the government on Sunday.
However, sequentially net GST collections were below the October level of ₹1.68 trillion with 7.9 per cent growth.
The latest GST data comes ahead of the all-powerful GST Council meeting on December 21. The Council is expected to take up rationalisation of indirect tax rates among other issues.
The gross GST collection, which is the amount before adjusting for refunds, grew by 8.5 per cent in November to ₹1.8 trillion. November marks the ninth consecutive month in which collections exceeded ₹1.7 trillion.
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