Business
High Rise : GST Collections Jumps 15 % To Nearly Rs 1.68 lakh Crore In November
GST collections jumped 15 per cent to nearly Rs 1.68 lakh crore in November on increased domestic activity and festive season buying, the finance ministry said on Friday.
Goods and Services Tax (GST) mop-up was over Rs 1.45 lakh crore in November 2022.
“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 ministry said in a statement.
The November 2023 collections are, however, lower than Rs 1.72 lakh crore mopped up in October — the second-highest collection ever since the GST rollout. Revenues for November 2023 are 15 per cent higher than the GST revenues in the same month last year and the highest for any month year-on-year during 2023-24, up to November 2023, the ministry said.
