GST revenue of Rs 1.31 lakh crore: Second highest collection

- The highest revenue was Rs 1,39,708 crore in April

- GST revenue in October to Rs. 1.30 lakh crore, more than one lakh crore for the fifth consecutive month

- Increase in GST revenue, signs of accelerating economic recovery and normalization of business activity

New Delhi: Goods and Services Tax collection (GST) revenue rose 5 per cent to Rs 1.31 lakh crore in November. This is the second highest revenue since the implementation of GST. This indicates that along with the economic renaissance, business activities are also now becoming normal. It has also led to an increase in compliance.

For the fifth month in a row, GST revenue has been above Rs 1 lakh crore. In November 2021, the total collection of GST was Rs. This includes Rs 2,17 crore collected on imported goods and Rs 4,605 ​​crore on cess. This includes Rs 3 crore collected as cess on imported goods.

CGST stands for Central Goods and Services Tax (CGST), SGST (State Goods and Services Tax) and IGST stands for (Integrated Goods and Service Tax).

Revenue from GST in November is 3 per cent higher than the revenue of Rs 1.05 lakh crore in November 2020. While the GST revenue of November 2021 is 3% higher than the revenue of November 2016.

GST revenue in November is the second highest after revenue of Rs 1,3,606 crore recorded in April 2021. The GST figure in April was Rs 1,31,000 lakh crore, which has since been revised upwards. This way the monthly figures are updated.

Of this, Rs 2.41 crore was made in May, Rs 600 crore in June, more than Rs 1.15 lakh crore in July, more than Rs 1.17 lakh crore in August, more than Rs 1.16 lakh crore in September and more than Rs 1.50 lakh crore in October. The recent increase in GST revenue is due to various policy and administrative initiatives of the government. This has led to an improvement in compliance. The GST, which came into force on July 1, 2018, includes all types of indirect taxes, excise duty, service tax and VAT.