Net GST Collection sees modest uptick at ₹1.52 trillion in November

Don't want to miss the best from Business Standard?

Net Revenues from the Goods and Services Tax (GST) rose 1.3 per cent in November to ₹1.52 trillion as compared to the same period last year, according to the data released by the government. The GST Compensation Cess collections slipped a sharp 69.06 per cent to ₹4,006 crore from nearly ₹13,000 crore a year ago.

 

Gross GST revenues for November, which represent taxes paid for transactions concluded in October, were up 0.7 per cent at ₹1.7 trillion, but revenues from domestic transactions in the first full month of the revised GST rate structure slipped 2.3 per cent from last year to ₹1.24 trillion. Gross revenues from imports grew 10.2 per cent.  Meanwhile, ₹1.95 trillion in revenue was collected in October, marking a 4.6 per cent increase compared to ₹1.87 trillion for the same period last year.  

Commenting on the collection, MS Mani, partner, Deloitte India, said, "Gross GST collections (excluding cess) have largely remained the same as the same month last year, indicating that the loss on account of rate reductions has been compensated by higher consumption, although not at the expected scale."

 

"While the gross domestic product (GDP) data indicates robust growth, the GST collections over the next four months would indicate whether the FY26 targets can be met as planned. There is wide divergence in the state-wise collections, and a sectoral causative analysis is essential at this stage to enhance the collections with necessary policy measures," Mani added.