The Indian economy is now seen coming out of the shadow of Corona. Due to increase in production activities in the country, GST figures have brought relief news for the government. GST revenue in the country increased by 11 percent year-on-year to about Rs 1.46 lakh crore in the month of November. This is the ninth consecutive month when the Goods and Services Tax (GST) revenue has crossed Rs 1.40 lakh crore.
According to the Finance Ministry, the gross GST revenue collection stood at Rs 1,45,867 crore in the month of November. Of this, Central GST was Rs 25,681 crore, State GST was Rs 32,651 crore, Integrated GST was Rs 77,103 crore (including Rs 38,635 crore received on imported goods) and Cess was Rs 10,433 crore. This includes Rs 817 crore as cess received from imported goods.
11 percent more revenue than last year
According to the statement, “The GST revenue in the month of November this year was 11 percent more than the same month last year. It was Rs 1,31,526 crore in the month of November last year.” During this month, the revenue from import of imported goods was 20 percent more. At the same time, revenue from domestic transactions (including import of services) increased by eight percent on an annual basis. GST revenue had reached a record high of Rs 1.68 lakh crore in the month of April. The second highest revenue was Rs 1.52 lakh crore in October.
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