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GST - Nov mop-up is close to Rs 1.46 lakh Crore

Published: Dec 01, 2022

By TIOL News Service

NEW DELHI, DEC 01, 2022: THE gross GST revenue collected in the month of November 2022 is Rs 1,45,867 crore of which CGST is Rs 25,681 crore, SGST is Rs 32,651 crore, IGST is Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and Cess is Rs 10,433 crore (including Rs 817 crore collected on import of goods)

The government has settled Rs 33,997 crore to CGST and Rs 28,538 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2022 is Rs 59678 crore for CGST and Rs 61189 crore for the SGST. In addition, Centre had also released Rs 17,000 crore as GST compensation to States/UTs in November 2022.

The revenues for the month of November 2022 are 11% higher than the GST revenues in the same month last year, which itself was Rs. 1.31,526 crore. During the month, revenues from import of goods was 20% higher and the revenues from domestic transaction (including import of services) are 8% higher than the revenues from these sources during the same month last year.

The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of November 2022 as compared to November 2021.

State-wise growth of GST Revenues during November 2022 [1]