goods and services tax amounting to ₹ 1,04 lakh crore in November

Central Board of Indirect Taxes

The government said on Tuesday that it collected goods and services tax (GST) amounting to ₹ 1,04 lakh crore in November. The GST revenues were ₹ 1.05 lakh crore in October, marking two successive months wherein the GST revenues have topped the ₹ 1 lakh crore mark. The collection in November 2020 is 1.4 per cent higher than in November 2019 when the GST mop-up figures were ₹ 1,03,491 crore.

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The GST collection in November this year included central GST (CGST) of ₹ 19,189 crore, state GST (SGST) of ₹ 25,540 crore and integrated GST (IGST) of ₹ 51,992 crore and cess of ₹ 8,242 crore.

“During the month, revenues from import of goods were 4.9 per cent higher and the revenues from domestic transaction (including import of services) are 0.5 per cent higher than the revenues from these sources during the same month last year,” the finance ministry said in a statement.

The GST revenues had topped ₹ 1 lakh crore in 8 out of 12 months of FY 2019-20. However, in the current fiscal, the revenues have taken a hit due to the lockdown and resultant slowdown in the economy. The revenues in April were ₹ 32,172 crore, May (Rs 62,151 crore), June (Rs 90,917 crore), July (Rs 87,422 crore), August (Rs 86,449 crore) and September (Rs 95,480 crore).

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