GST collections witness sharp decrease to Rs 97,637 crore in November
After breaching the Rs 1-trillion-mark in October, the PM Narendra Modi-led NDA government’s Goods and Services Tax (GST) collections witnessed a sharp decrease to Rs 97,637 crore in November.
According to the data released by Finance Ministry on Saturday, of Rs 97,637 crore collected in the month of November, central GST (CGST) collection is Rs 16,812 crore, state GST (SGST) is Rs 23,070 crore, integrated GST (IGST) is Rs 49,726 crore (including Rs 24,133 crore collected on imports) and cess is Rs 8,031 crore (including Rs 842 crore collected on imports).
On the other hand, the revenue deficit in the same period was at Rs 4.91 lakh crore, or 118%, of the Rs 4.17 lakh crore full-year estimate.
The government further noted that it has settled Rs 18,262 crore to CGST and Rs 15,704 crore to SGST from IGST as a regular settlement. The Finance Ministry also said that the compensation released to states for August-September stood at Rs 11,922 crore. “The total number of GSTR 3B returns filed for the month of October up to November 30 is Rs 69.6 lakh,” it added.
The GST collections stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September and Rs 1,00,710 crore in October.