December 1, New Delhi. India’s GST collection crossed Rs 1.30 lakh in for the second straight month with the country clocking a gross GST revenue of Rs 1,31,526 crore in November 2021. This is 25 percent higher than the GST revenues in the same month last year, and 27 percent over 2019-20.
Of the total GST collected, Rs 23,978 crore is CGST; SGST is Rs 31,127 crore, IGST is Rs 66,815 crore including Rs 32,165 crore collected on import of goods), and Cess is Rs 9,606 crore (including ₹Rs 653 crore collected on import of goods).
The government has settled Rs 27,273 crore to CGST and Rs 22,655 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2021 is Rs 51251 crore for CGST and Rs 53,782 crore for the SGST. Centre has also released Rs 17,000 crore to States/UTs towards GST compensation on 03.11.2021.
During the month, revenues from import of goods was 43% higher and the revenues from domestic transaction (including import of services) are 20% higher than the revenues from these sources during the same month last year.
The GST revenues for November 2021 have been the second highest ever since introduction of GST, second only to that in April 2021, which related to year-end revenues and higher than last month’s collection, which also included the impact of returns required to be filed quarterly. This is very much in line with the trend in economic recovery.
The recent trend of high GST revenues has been a result of various policy and administrative measures that have been taken in the past to improve compliance. Central tax enforcement agencies, along with the State counterparts have detected large tax evasion cases, mainly cases relating to fake invoices, with the help of various IT tools developed by GSTN that use the return, invoice and e-way bill data to find suspicious taxpayers.