GST collections once more breach Rs 1-lakh-crore mark however stay flat

Tribune News Service
New Delhi, December 1

GST collections in November 2020 were almost flat as compared to last year but breached the Rs 1 lakh-crore-mark for the second consecutive month.

As compared to October, Central GST mop up rose by just Rs 4 crore, state GST by Rs 139 crore, IGST fell by Rs 548 crore while GST cess rose by Rs 231 crore.

Overall, the mop up was Rs 192 crore less than last month.

Sources here said the month-on-month dip was minor and pointed to the six per cent “reasonably healthy” growth in GST collections in October and November.

The total number of GSTR-3B returns filed during November is 82 lakh as compared to 80 lakh in October.

The November numbers were still one lakh short of the current year’s high of 83 lakh in January.

The Union Finance Ministry said the collection was in line with the recent trend of recovery in GST revenue.

It opted to compare the revenue in November with the same month last year, which was 1.4 per cent higher. It noted that the revenue from import of goods was 4.9 per cent higher. Revenues from domestic transaction (including import of services) are 0.5 per cent higher than the revenues from these sources during the same month last year.

The gross GST revenue collected in November is Rs 1,04,963 crore. Of this, CGST is Rs 19,189 crore, SGST is Rs 25,540 crore, IGST is Rs 51,992 crore (including Rs 22,078 crore collected on import of goods). The cess is Rs 8,242crore (including Rs 809 crore collected on import of goods).

“It is flat as compared with last year despite huge positivism around recovery, festival season demand etc. It reflects that despite some recovery in some sectors others are languishing and the overall economy is still stalled,” said investor analyst Sandip Sabharwal.


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