GST mop-up hits Rs.1.31 trillion in November, second highest ever

Goods and services tax (GST) collection grew about 25 per cent year-on-year to Rs.1.31 trillion in November, the second-highest mop-up ever, the official data showed, giving experts confidence that GST receipts would surpass the Budget projections for 2021-22. The highest collection was recorded in April this year, at Rs.1.40 trillion.

Even as e-way bills generated in October were at a record high of 73.5 million, the collection in November trailed the April figures. Transactions in a month yield GST collection in the following month. In March, 71.2 million e-way bills were generated.

The finance ministry said the April figures were linked to year-end revenues. As such, there is a bump in April collections.

GST collection crossed the Rs 1.3-trillion mark for the second straight month in November. This is in line with the trend in economic recovery, the ministry said in a statement.