New Delhi: There are signs of improvement in the Indian economy. The Finance Ministry has released data on Goods and Services Tax (GST) collection on Tuesday. The GST collection has been more than Rs 1 lakh crore for the second consecutive month. Accordingly, the GST collection in November stood at Rs 1,04,963 crore.
In this, the government has received Rs 19,189 crore as CGST. The government has earned Rs 25,540 crore as SGST. Government has received Rs 51,992 crore (out of which Rs 22,078 crore has been raised on import of goods) as IGST. In addition, the government has raised Rs 8,242 crore (including Rs 809 crore raised on import of goods) through the cess. GST collection in November was 1.4% higher than the same month last year. The GST collection stood at Rs 1,03,491 crore in November 2019.
Revenue from import of goods was 4.9 per cent higher in the month under review compared to the same month last year. On the other hand, revenue from domestic transactions was up 0.5 percent from the same month last year. The GST revenue has been affected by the lockdown imposed due to Coronavirus epidemic in the current financial year. The GST collection in April in the current financial year was just Rs 32,172 crore.
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