GST growth records 6% rise crossing 1 lakh crore mark

The GST revenue in November registers Rs. 1,03,492 crore, crossing the Rs. 1 lakh crore mark once again, having dipped below it for three successive months. Average collections in the financial year 2019-20 so far stand at Rs. 1,00,646 crore. The collections in November 2019 are the third highest since the GST was introduced, next only to April, 2019 and March, 2019.

“The gross GST revenue collected in November, 2019 is Rs. 1,03,492 crore, of which the CGST is Rs. 19,592 crore, the SGST is Rs. 27,144 crore, the IGST is Rs. 49,028 crore and the cess is Rs. 7,727 crore,” the government said in a release. “After two months of negative growth, GST revenues witnessed an impressive recovery, with a positive growth of 6% in November, 2019 over the November, 2018 collections,” the release added.

According to the government, the GST from domestic transactions saw a growth of 12%, the highest during the year. The GST collections from imports continued to contract, by 13%, compared with a contraction of 20% in the previous month.