New Delhi: Finance Ministry said on Saturday (November 30) that Goods and Services Tax (GST) revenue collection crossed the Rs 1 lakh crore mark after a gap of three months in November. After two months of negative growth, the revenue grew by 6 per cent to Rs 1.03 lakh crore in the month. It is to be noted that in October, the GST collection was Rs 95,380 crore, while in November it was Rs 97,637 crore.
The Finance Ministry said in a statement that of gross Rs 1,03,492 crore in November, CGST is Rs 19,592 crore, SGST is Rs 27,144 crore, IGST is Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess is Rs 7,727 crore (including Rs 869 crore collected on imports).
"The gross GST revenue collected in the month of November, 2019 is Rs 1,03,492 crore of which CGST is Rs 19,592 crore, SGST is Rs 27,144 crore, IGST is Rs 49,028 crore (including Rs 20,948 crore collected on imports) and cess is Rs 7,727 crore (including Rs 869 crore collected on imports)," a Finance Ministry statement said.
The statement added that the GST collection on domestic transactions witnessed a growth of 12 per cent in November, which is the highest during 2019. According to Finance Ministry, the total number of GSTR 3B Returns, summary monthly returns, filed for the month of October up to November 30, 2019 was 77.83 lakh.
"The government has settled Rs 25,150 crore to CGST and Rs 17,431 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of November, 2019 is Rs 44,742 crore for CGST and Rs 44,576 crore for the SGST," the Finance Ministry said.
Notably, this is the eighth time since the roll-out of GST by Prime Minister Narendra Modi-led government at the Centre in July, 2017 that monthly collection has breached the Rs 1 lakh crore mark.