November GST collections fall below Rs 1 lakh crore
New Delhi: After breaching the Rs 1-lakh crore-mark in October, revenue collection under the Goods and Services Tax (GST) slided to Rs 97,637 crore in November.
The revenue collected in November relates to transactions made in October. The total GST revenue collected in October (for September) was Rs 1,00,710 crore.
The Finance Ministry said a total of 69.6 lakh GSTR-3B returns were filed till November 30, bringing in Rs 16,812 crore as Central GST (CGST), Rs 23,070 crore as state GST (SGST), Rs 49,726 crore as Integrated GST (IGST) and Rs 8,031 crore as cess.
While the CGST and SGST showed a marginal improvement over last month when they were Rs 16,464 crore and Rs 22,826 crore, respectively, the shortfall in revenue was mainly on account of IGST which was Rs 53,419 crore in October. The cess collected in October was Rs 8,000 crore.
“The government has settled Rs 18,262 crore to CGST and Rs 15,704 crore to SGST from IGST as regular settlement. The total revenue earned by the Central and state governments after regular settlement in the month of November is Rs 35,073 crore for CGST and Rs 38,774 crore for the SGST,” the Finance Ministry statement said.
Rs 11,922 crore has been released to the states as GST compensation for the months of August and September, it said.