Gross GST Revenue Collection Recorded at Rs 1,31,526 Crore in November

The Ministry of Finance has informed that the gross GST revenue collected in the month of November 2021 is Rs 1,31,526 crore. Out of total Collected GST Revenue, the CGST is Rs 23,978 crore, SGST is Rs 31,127 crore, IGST is Rs 66,815 crore (including Rs 32,165 crore collected on import of goods) and Cess is Rs 9,606 crore (including Rs 653 crore collected on import of goods).

Further, the government has settled Rs 27,273 crore to CGST and Rs 22,655 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2021 is Rs 51251 crore for CGST and Rs 53,782 crore for the SGST. Centre has also released Rs 17,000 crore to States/UTs towards GST compensation on 3rd November, 2021.

For the second straight month gross GST collection crossed Rs 1.30 lakh crore. The revenues for the month of November 2021 are 25% higher than the GST revenues in the same month last year and 27% over 2019-20. During the month, revenues from import of goods was 43% higher and the revenues from domestic transaction (including import of services) are 20% higher than the revenues from these sources during the same month last year.

However, the gross GST revenue collected in the month of October 2021 was recorded at Rs 1,30,127 crore. 


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