Out of this, the CGST component accounted For Rs 23,978 crore, SGST Rs 31,127 crore, IGST Rs 66,815 crore (including Rs 32,165 crore on import of goods), and cess Rs 9,606 crore (including Rs 653 crore on import of goods).
November was the second straight month in which gross GST collection crossed Rs 1.30 lakh crore.
The revenues for the month of November 2021 are 25% higher than the comparable month last year, and 27% higher than those witnessed in 2019-20, data showed.
The revenues for November are the second highest ever since introduction of GST. The highest-ever revenues since the rollout of the tax were collected in April this year (over Rs 1.41 lakh crore).
“The GST revenues for November 2021 have been the second highest ever since introduction of GST, second only to that in April 2021, which related to year-end revenues and higher than last month’s collection, which also included the impact of returns required to be filed quarterly,” the ministry said.
Collections are very much in line with the broader trend in economic recovery, the government said.
GST overhaul explained: How could the possible rate rationalisation impact your business
The one country, one tax is all set to get a makeover. Govt is likely to go for a rate rationalisation in the upcoming GST council meeting or before the budget session. Why is the govt planning to do this, and what does this mean for Indian companies? Sachin Dave with details. Watch
Download The Economic Times News App to get Daily Market Updates & Live Business News.