GST Collection: The government received revenue of Rs 1,04,963 crore in November, the situation is a sign of improvement

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GST Collection: Rs 1,04,963 crore of gross GST revenue collected in the month of November 2020

new Delhi. The country’s economy derailed due to Corona appears to be back on track. This is clearly visible from the Goods and Services Tax (GST) collection. According to information provided by the Ministry of Finance, during November 2020, the GST revenue of Rs 10,4,963 crore has been collected in the country. GST revenue of Rs 10,3,491 crore was received in November last year.

Finance Minister Nirmala Sitharaman said that as per the recent recovery trend in GST revenue, GST revenue collection in November 2020 also increased by 1.4 per cent over the total revenue received in the same month of the previous year.

Earlier, the figure for Goods and Services Tax (GST) collection in October was Rs 1.05 lakh crore. For the first time since February, the GST collection in October had crossed the Rs 1 lakh crore mark. The total GSTR-3B return filed till October 31, 2020 was 80 lakhs.

The total GST collection in October 2020 stood at Rs 1,05,155 crore. CGST had Rs 19,193 crore, SGST Rs 5,411 crore, IGST Rs 52,540 crore (including collection of Rs 23,375 crore on import of goods) and a cess of Rs 8,011 crore (Rs 932 crore on imported goods). The GST collection in October 2020 was 10 percent higher than the same month in the previous year. The GST collection stood at Rs 95,379 crore in October 2019.

Due to the lockdown imposed to prevent the spread of the Kovid-19 pandemic, the GST collection data remained below the level of Rs 1 lakh crore for several consecutive months.

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