NEW DELHI: Goods and Services Tax (GST) collection in November grew 25 per cent to Rs 1.31 lakh crore — second-highest since its implementation — indicating economic recovery with normalisation of business activity and increased compliance, a Finance Ministry statement said on Wednesday.
This is the fifth month in a row that the revenues from goods sold and services rendered was over Rs 1 lakh crore.
“The gross GST revenue collected in the month of November 2021 is Rs 1,31,526 crore of which CGST is Rs 23,978 crore, SGST is Rs 31,127 crore, IGST is Rs 66,815 crore (including Rs 32,165 crore collected on import of goods) and Cess is Rs 9,606 crore (including Rs 653 crore collected on import of goods),” the statement said.
CGST refers to Central Goods and Services Tax, SGST (State Goods and Services Tax) and IGST (Integrated Goods and Services Tax).
The revenues for the month of November 2021, are 25 per cent higher than close to Rs 1.05 lakh crore Goods and Services Tax (GST) revenue in November 2020, and 27 per cent higher over November 2019 revenues.
This story is from the December 02, 2021 edition of Millennium Post Delhi.
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This story is from the December 02, 2021 edition of Millennium Post Delhi.
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