GST Revenue Collection falls to Rs 97 637 crores in November 2018

GST Revenue Collection falls to Rs. 97,637 crores in November 2018

The total gross revenue of Goods and Services Tax (GST) collected in the month of November 2018 is Rs. 97,637, marginally lower than the previous month October 2018.

The GST revenue for November 2018 collections are shared to the following departments as follows – CGST is Rs. 16,812 crore, SGST is Rs. 23,070 crore, IGST is Rs. 49,726 crore and Cess is Rs. 8,031 crore. The values are included collections on imports also.

The finance department witnessed a slighter dip in November collections compared to October but higher than last 6 months collections. This is depicted in the below chat for the current year.

The government has settled Rs. 18,262 crore to CGST and Rs. 15,704 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, 2018 is Rs. 35,073 crore for CGST and Rs. 38,774 crore for the SGST.

Rs. 11,922crore has been released to the states as GST compensation for the months of August-September, 2018. The chart shows trends in revenue during the current year.

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