Goods and Services Tax (GST) collections for the month of November 2022 stood at ₹1,45,867 crore, according to the data shared by finance ministry on Thursday. The revenue for the month of November are 11% higher than the GST revenue in the same month last year, which itself was ₹1,31,526 crore.

This is the ninth straight month when collections from GST has remained above ₹1.40 lakh crore.

The gross GST revenue collected in November 2022 came in at ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods).

The government has settled ₹33,997 crore to CGST and ₹28,538 crore to SGST from IGST as regular settlement, a finance ministry statement said.

The total revenue of Centre and the state after regular settlements in the month of November 2022 is ₹59678 crore for CGST and ₹61189 crore for the SGST. In addition, the Centre had also released ₹17,000 crore as GST compensation to States/UTs in November 2022.

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 48th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, will be held on 17 December. 

Taking to Twitter, the GST Council said, “The 48th Meeting of the GST Council will be held on 17th December, 2022 by video conference.” 

Source: Live Mint
https://www.livemint.com/news/india/november-gst-collection-up-11-yoy-at-rs-1-45-lakh-crore-11669889297128.html