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The Finance Ministry has said that Goods and Services Tax (GST) revenues rose by 11 per cent to about Rs 1.46 lakh crore in November 2022 over Rs 1,31,526 crore GST revenues in the same month last year. This is the ninth straight month when collections from GST has remained above Rs 1.40 lakh crore. Besides, In October 2022 the collection was highest at Rs 1.52 lakh crore.

The gross GST revenue collected in the month of November 2022 is Rs 1,45,867 crore of which Central GST (CGST) is Rs 25,681 crore, State GST (SGST) is Rs 32,651 crore, Integrated GST (IGST) 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).

The government has settled Rs 33,997 crore to CGST and Rs 28,538 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2022 is Rs 59678 crore for CGST and Rs 61189 crore for the SGST. In addition, Centre had also released Rs 17,000 crore as GST compensation to States/UTs in November 2022.

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.