Mumbai: Goods and Service Tax (GST) collections in November 2023 surged 15% year-on-year basis in November 2023. The GST revenue in November this year stand at Rs 1,67,929 crore. It is for the sixth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24.
‘GST revenue collection for November 2023 at Rs 1,67,929 crore records highest growth rate of 15 per cent Y-o-Y. During the month, the revenues from domestic transactions (including import of services) are 20 per cent higher than the revenues from these sources during the same month last year. It is for the sixth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24,’ the finance ministry said in a statement.
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The gross GST revenue collected in November 2023 is Rs 1,67,929 crore. Out of this, CGST is Rs 30,420 crore, SGST is Rs 38,226 crore, IGST is Rs 87,009 crore (including Rs 39,198 crore collected on import of goods) and cess is Rs 12,274 crore (including ? 1,036 crore collected on import of goods).
GST revenue in October had reported a 13 per cent growth, and collections stood at Rs 1,72,003 crore. The highest monthly GST mop-ups were recorded in April 2023 at Rs 1,87,035 crore.
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