GST 2022 Collection Reaches Rs 1.5 Lakh Cr
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November 2020 Month GST Collection Reaches Rs 1 Lakh Crore
- GST Collection: The total Goods & Service Tax revenue received in the month of November 2020 is Rs 1,04,963 crore, Out of which Central Goods & Service Tax is Rs 19,189 crore, and State Goods & Service Tax is Rs 25,540 crore, Integrated Goods and Service Tax is Rs 51,992 crore (which include Rs 22,078 crore received for import of goods) & Cess is Rs 8,242 crore (including Rs 809 crore collected on import of goods).
- Aggregate number of GSTR-3B returns filed during the month of November to 30 November 2020 is 82 lakhs.
- The Government has agreed to Rs 22,293 crore to Central Goods & Service Tax and Rs 16,286 crore to State Goods & Service Tax to Integrated Goods and Service Tax as a routine settlement.
- Combined revenue obtained by the central government and the state governments after routine settlement in the month of November 2020 amounts to Rs 41,482 crore for CGST and Rs 41,826 crore for State Goods & Service Tax.
- In accordance with the recent trend of recovery in the latest Goods & Service Tax sales, revenue for the month of November 2020 is 1.4% higher than GST revenue for the same month last year.
- During the period revenues from imports of goods were 4.9 percent higher and revenues from internal transactions (including imports of services) are 0.5 percent higher than revenues from these sources in the same month last year.
Table below shows patterns in monthly gross GST Revenue for the current year. The table displays the state-wise figure GST obtained by each State during the month of November 2020 related to November 2019.
Gross GST Revenue collected in October, 2021 is INR 1,30,127 Cr.
The Gross GST revenue collected in the month of October 2021 is ₹ 1,30,127 crore of which CGST is 23,861 crore, SGST is 30,421 crore, IGST is 67,361 crore (including 32,998 crore collected on imports of goods), and Cess is 8,484 crore (including 699 crore collected on imports of goods).
GST revenue collection(Gross) is Rs 1,29,780 crore For December 2021,
- Despite a 17% decrease in the number of e-way bills generated in November 2021 (6.1 crore) compared to October 2021 (7.4 crore).
- GST collection for the month is close to INR 1.30 lakh crore, thanks to improved tax compliance and better tax administration by both the Central and State GST tax authorities.
- The GST revenue in December 2021 is 13% higher than the same month last year & 26% higher than the GST revenue in December 2019.
- Revenues from imports of products were 36 % higher during the month, while revenues from domestic transactions (including imports of services) were 5 % higher than in the same month the previous year.
GST revenue collection is For past few year till Nov 2022
You may also like to read the related Link;
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- Threshold limit and Eligibility criteria of GST return turnover
- Process of Flow of Return filed under GST
Rajput Jain & Associates