GST Collection: GST collection of 1.05 lakh crore rupees in November, Ministry of Finance gave information

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GST Collection: GST collection of 1.05 lakh crore rupees in November, Ministry of Finance gave information

The Goods and Services Tax (GST) collection stood at over Rs 1 lakh crore in November as well. According to the Finance Ministry data, the government earned Rs 1,04,963 crore as Goods and Services Tax in November 2020. In this, the government earned Rs 19,189 crore as CGST. At the same time, the government raised Rs 25,540 crore as SGST. The government earned Rs 51,992 crore as IGST. At the same time, the government has earned Rs 8,242 crore through cess.

Earlier in October, GST collection of Rs 1.05 lakh crore was done. November was the second consecutive month in the current financial year, when GST collection was more than Rs 1 lakh crore. In November this year, GST collection was 1.4 percent more than in November last year. GST collection of Rs 1,03,491 crore was recorded in November last year.

Gross GST revenue collected in November is Rs 1,04,963 Cr of which CGST is Rs 19,189 Cr, SGST is Rs 25,540 Cr, IGST is Rs 51,992 Cr and Cess is Rs 8,242 Cr: Ministry of Finance pic.twitter.com/NcVJQLn02J
— ANI (@ANI) December 1, 2020

“As per the trend of recovery in GST revenue, the revenue from GST in November 2020 was 1.4 per cent more than the same month of the previous year,” it said in a statement issued by the Finance Ministry.

During the financial year 2019-20, eight months out of 12 GST collections exceeded Rs 1 lakh crore. However, the impact of the lockdown in the current financial year has affected the GST earnings.

Rs 32,172 crore from GST in April, Rs 62,151 crore in May, Rs 90,917 crore in June, Rs 87,422 crore in July, Rs 86,449 crore in August, Rs 95,480 crore in September, Rs 1,05,155 crore in October and 1 in November, GST collection of Rs 04,963 crore.