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Rs 1.03 lakh crore GST collected in November, 3rd highest in history

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Goods and Service Tax (GST) collection stood at Rs 1,03,492 crore for November, the third highest monthly collection since its introduction.

The gross GST collection includes Rs 19,592 crore as Central GST, Rs 27,144 crore as SGST and Rs 49,028crore (including Rs 20,948crore collected on imports) on IGST, the Finance Ministry said on Sunday.

The total number of GSTR 3B Returns filed for the month of October up to November 30is 77.83 lakh, a press release said.

"The government has settled Rs 25,150 crore to CGST and Rs 17,431 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of November, 2019 is Rs 44,742 crore for CGST and Rs 44,576 crore for the SGST," the press note read.

The positive growth in the GST collection comes two months after negative growth and 6 per more than the corresponding month of the last year. A total of Rs 95380 crore was collected in October. During the month, the GST collection on domestic transactions witnessed a growth of 12 per cent, highest during the year.

The GST collection on imports continued to see negative growth at (-)13per cent, but was an improvement over last month's growth of (-)20 per cent.

This is the eighth time since the inception of GST in July 2017 that monthly collection has crossed the mark of Rs one lakh crore.

This month's collection is the third highest monthly collection since the introduction of GST, next only to April 2019 and March 2019collections.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sun, December 01 2019. 15:42 IST
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