Government treasury became rich in November, GST collection of Rs 1.82 lakh crore

According to the data released by the central government, gross GST collection increased by 8.5 percent to more than Rs 1.82 lakh crore in November. The reason behind the increase in GST collection is the higher revenue received due to domestic transactions.

According to government data released on Sunday, Central GST collection in November was Rs 34,141 crore, State GST Rs 43,047 crore, Integrated IGST Rs 91,828 crore, and cess Rs 13,253 crore. Total gross GST revenue in November increased by 8.5 percent to more than Rs 1.82 lakh crore, whereas in the same month a year ago it was Rs 1.68 lakh crore.

The Rs-1.87 lakh crore GST collection of October this year was the second-best GST collection with a growth of nine percent on year. The highest-ever collection to date was over Rs 2.10 lakh crore in April this year. GST revenue from domestic transactions grew 9.4 percent to Rs-1.40 lakh crore during the month under review, while revenue from taxes on imports grew nearly six percent to Rs 42,591 crore.

Refunds of Rs 19,259 crore were issued during the month, down 8.9 percent over the same period last year. After adjusting for refunds, net GST collections grew 11 percent to Rs 1.63 lakh crore.