November Sees 8.5% Rise in GST Collections Amidst Strong Domestic Revenue

GST collections in November increased by 8.5% to over Rs 1.82 lakh crore, driven by higher domestic transaction revenues. The Central GST was Rs 34,141 crore, State GST was Rs 43,047 crore, and Integrated IGST was Rs 91,828 crore. Net GST collection rose 11% after adjusting for refunds.

India's Gross GST collections saw a noteworthy rise of 8.5% in November, reaching over Rs 1.82 lakh crore. This increase primarily stems from robust domestic transaction revenues, as highlighted in the recent government data release.

The Central GST accounted for Rs 34,141 crore, while the State GST contributed Rs 43,047 crore. The Integrated IGST stood at Rs 91,828 crore, alongside a cess of Rs 13,253 crore, reinforcing the upward trend in total tax collections.

Despite an 8.9% decrease in refunds month-on-month, net GST collections climbed by 11% to Rs 1.63 lakh crore. Analysts note that while domestic transactions grew by 9.4% to Rs 1.40 lakh crore, revenues from import taxes saw a 6% rise, reflecting a mixed but overall growing economic landscape.

(With inputs from agencies.)