The government has collected Rs 1.82 lakh crore from Goods and Services Tax i.e. GST in November 2024. There has been an increase of 8.5% year-on-year. A year ago i.e. in November-2023, the government collected GST of Rs 1.68 lakh crore. 19.74 lakh crore rupees have come from GST since April till now in the current financial year.
At the same time, in October last month, the government collected Rs 1.87 lakh crore from GST, which was 9% more than October last year. November is the ninth consecutive month when the monthly collection is Rs. 1.7 lakh crore has been over. In the first six months of the year, GST collection was Rs. 10.87 lakh crore, which was 9.5% higher than in the first half of FY-24.
3rd largest collection ever In terms of gross tax collection, this is the third highest ever in the month of November. Earlier, a maximum of Rs 2.10 lakh crore was collected as GST in April 2024. At the same time, the government collected GST worth Rs 1.87-1.87 lakh crore in April-2023 and October-2024.
Central GST collection ₹34,141 crore According to PTI, the government received more revenue through domestic transactions in November and the effect was seen in the increase in GST collections.
Central GST collection (CSGT) was 34,141 crore, State GST collection (SGST) 43,047 crore, Integrated IGST 91,828 crore and Cess 13,253 crore.
Net GST collection increased by 11% to Rs. 1.63 lakh crores GST revenue from domestic transactions increased by 9.4% during the month of November to Rs. 1.40 lakh crore, while revenue from taxes on imports increased by nearly 6% to Rs. 42,591 crores. During this month Rs. 19,259 crore in refunds issued, which is 8.9% lower than in Nov-2023. After adjusting for refunds, net GST collections increased by 11% to Rs. 1.63 lakh crore has happened.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
