New Delhi (NVI): In goods news amid economic gloom, the Goods and Services Tax (GST) collection crossed the ₹1 trillion mark after a gap of three months in November with the revenue growing by 6% to ₹1.03 trillion in the month.
The positive growth, which can be perceived as a possible sign of recovery, has come after two months of negative growth.
During the month, the GST collection on domestic transactions witnessed a growth of 12%, the highest during the year. The collection on imports continued to see negative growth at (-)13%., an official statement said here today.
The gross GST revenue collected in the month of November, 2019 is Rs 1,03,492 crore of which CGST is Rs 19,592 crore, SGST is Rs 27,144 crore, IGST Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess Rs 7,727 crore (including Rs 869 crore collected on imports). The total number of GSTR 3B Returns filed for the month of October up to 30th November, 2019 is 77.83 lakh, the statement added.
This is the eighth time since the roll-out of GST in July, 2017 that monthly collection has crossed the mark of ₹trillion. Also, November 2019 collection is the third highest monthly collection since introduction of GST, next only to April 2019 and March 2019 collections.
The government has settled Rs 25,150crore to CGST and Rs 17,431crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of November, 2019 is Rs 44,742 crore for CGST and Rs 44,576 crore for the SGST, the statement said.
