GST collection of 1.05 lakh crore rupees in November, Ministry of Finance gave information

The Goods and Services Tax (GST) collection stood at over Rs 1 lakh crore in November also. Consistent with the Finance Ministry data, the govt earned Rs 1,04,963 crore as Goods and Services Tax in November 2020. In this, the govt earned Rs 19,189 crore as CGST. At an equivalent time, the govt raised Rs 25,540 crore as SGST. The govt earned Rs 51,992 crore as IGST. At an equivalent time, the govt has earned Rs 8,242 crore through cess.

Earlier in October, GST collection of Rs 1.05 lakh crore was done. November was the second consecutive month within the current fiscal year when GST collection was quite Rs 1 lakh crore. In November this year, GST collection was 1.4 percent quiet in November last year. GST collection of Rs 1,03,491 crore was recorded in November last year.

Gross GST revenue collected in November is Rs 1,04,963 Cr of which CGST is Rs 19,189 Cr, SGST is Rs 25,540 Cr, IGST is Rs 51,992 Cr and Cess is Rs 8,242 Cr: Ministry of Finance.

As per the trend of recovery in GST revenue, the revenue from GST in November 2020 was 1.4 percent quite an equivalent month of the previous year,” it said during a statement issued by the Finance Ministry.

During the fiscal year 2019-20, eight months out of 12 GST collections exceeded Rs 1 lakh crore. However, the impact of the lockdown within the current fiscal year has affected the GST earnings.

Rs 32,172 crore from GST in April, Rs 62,151 crore in May, Rs 90,917 crore in June, Rs 87,422 crore in July, Rs 86,449 crore in August, Rs 95,480 crore in September, Rs 1,05,155 crore in October and 1 in November, GST collection of Rs 04,963 crore.