GST revenues hold firm at Rs 1.7 trn in November
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New Delhi: India’s Gross Goods and Services tax (GST) collections reached Rs1,70,276 crore in November, up 0.7 per cent year-on-year, driven by lower rates and overall policy reforms, the official data showed on Monday. Total net GST revenue was up 1.3 per cent at Rs1.52 lakh crore last month.
Notably, import-related IGST went up 10.2 per cent to Rs 45,976 crore, taking total gross GST revenue to Rs1,70,276 crore, up 0.7 per cent from November last year. Net collections from exports and imports grew 11.6 per cent to Rs 36,521 crore.
Total net GST revenue for the April-November period this fiscal went up 7.3 per cent to Rs12.79 lakh crore.
Earlier, despite rate rationalisation, the GST collections rose 4.6 per cent (year-on-year) in the festive month of October at about Rs1.96 lakh crore. October also made it the 10th consecutive month that revenues remained above the Rs1.8 lakh crore mark.
