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Business News

Dec 02, 2020

GST collections over Rs 1 lakh crore for second consecutive month

Finance Ministry has said that Revenue from the Goods and Services Tax(GST) exceeded One Lakh Crore Rupees for the second consecutive month. The Collection of  one lakh four thousand nine hundred and 63 crore Rupees in November, a 1.4% year-on-year growth, and also registering a third straight month of growth - indicates that economic activity in the country is returning to normal after disruptions caused by the ongoing coronavirus pandemic and restrictions imposed to fight it.
Out of the gross GST revenue collected, CGST is 19 thousand 189 crore rupees, SGST is 25 thousand 540 crore rupees, IGST is 51 thousand 992 crore rupees and Cess is eight thousand 242 crore rupees.
The Ministry said, the total number of GSTR-3B Returns filed for the month of November is 82 lakhs. In line with the recent trend of recovery in the GST revenues, the revenues for the month of November are 1.4 per cent higher than the GST revenues in the same month last year.
Finance Ministry said, the total revenue earned by Central Government and the State Governments after regular settlement in the month of November this year is 41 thousand 482 crore for CGST and 41 thousand 826 crore for the SGST.

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