GST revenue collection up 6% in November, crosses ₹1 trillion mark

GST, Revenue, 1 Lakh, 2019, Finance Ministry, Govt of India, News Mobile, News Mobile India
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Goods and Services Tax (GST) revenue collection crossed the 1 trillion mark after three months in November with the revenue growing by 6% to 1.03 trillion in the month.

The positive growth which can be seen as a positive sign of growth has come after two months of negative growth.

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The GST collection was 95,380 crore in October while it was 97,637 crore in November 2018. Of gross 1,03,492 crore in November, CGST is 19,592 crore, SGST is 27,144 crore, IGST is 49,028 crore (including 20,948 crore collected on imports) and Cess is 7,727 crore (including 869 crore collected on imports), an official statement said.

After two months of negative growth, the GST revenue witnessed an impressive recovery with a growth of 6% in November 2019 over the November 2018 collections, it said.

During the month, the GST collection on domestic transactions witnessed a growth of 12%, the highest during the year. The collection on imports continued to see negative growth at (-)13%. it added.

This is the eighth time since the roll-out of GST in July, 2017 that monthly collection has crossed the mark of trillion.

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