GST collections jump 15% to Rs 1.68 lakh crore in November
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The finance ministry has said Goods and Services Tax (GST) collections jumped 15 per cent to nearly Rs 1.68 lakh crore in November 2023 on increased domestic activity and festive season buying. Goods and Services Tax (GST) mop-up was over Rs 1.45 lakh crore in November 2022.
The ministry stated the gross GST revenue collected in the month of November 2023 is Rs 1,67,929 crore, out of which CGST is Rs 30,420 crore, SGST is Rs 38,226 crore, IGST is Rs 87,009 crore (including Rs 39,198 crore collected on import of goods) and cess is Rs 12,274 crore (including Rs 1,036 crore collected on import of goods).
The gross GST collection till November in the current fiscal is Rs 13,32,440 crore, averaging Rs 1.66 lakh crore per month. The collection is 11.9 per cent higher than the gross GST collection in the same period last year (Rs 11,90,920 crore, averaging Rs 1.49 lakh crore per month).
