There is good news for the Indian economy. Record GST collection has been done in the month of November. Gross goods and services tax (GST) collections increased by 8.5 per cent to Rs 10 crore in November due to increased demand and higher revenue during the festive season. 1.82 lakh crore has been crossed. According to government data released on Sunday, central GST collection stood at Rs. 34,141 crore, State GST Rs. 43,047 crore, integrated IGST Rs. 91,828 crore and cess Rs. 13,253 crores. Total GST revenue increased by 8.5 percent to Rs. It is more than Rs 1.82 lakh crore. 1.68 lakh crore.
GST collection in October was Rs. was 1.87 lakh crores
In October Rs. GST collection of Rs 1.87 lakh crore was the second best GST collection with a year-on-year growth of nine per cent. The highest collection so far in April 2024 is Rs. 2.10 lakh crores were lost. GST revenue from domestic transactions increased by 9.4 percent to Rs. 1.40 lakh crore, while revenue from tax on imports increased by nearly six percent to Rs. 42,591 crores. During the month Rs. Refunds worth Rs 19,259 crore were issued, which is 8.9 percent less than the same period last year. After adjusting for refunds, net GST collections increased by 11 per cent to Rs. It is worth Rs 1.63 lakh crore.
pending shortage
The trend of decline in GST collections has stopped for the second consecutive month. Let us tell you that after Rs 1 lakh 82 thousand crore in July, GST collection on monthly basis has declined by 3.8 percent to Rs 1.75 lakh crore in August. At the same time, in the month of September it fell by 1.14% to Rs 1.73 lakh crore. GST collections increased 8.1% month-on-month in October compared to September. Now an increase in GST collection has been seen in November also. Good demand is expected in the upcoming wedding season. This will increase GST collection.
