NEW DELHI
The Government’s goods and services tax revenue collection for November 2023 has recorded the highest growth rate of 15 per cent year-on-year at ₹1,67,929 lakh crore, crossing the ₹1.60 lakh crore mark for the sixth time in FY 2023-24, on increased domestic activity and festive season buying. The gross GST collection for FY 2023-24 ending November, 2023, is ₹13,32,440 crore, averaging ₹1.66 lakh per month. This is 11.9 per cent higher than the gross GST collection for FY 2022-23 ending November, 2022 at ₹11,90,920 crore and averages ₹1.49 lakh crore per month, official figures of the Finance Ministry shows. The GST mop up is also the highest for any month y-o-y during 2023-24, upto November 2023.
The gross GST revenue collected in the month of November, 2023 is ₹1,67,929 crore out of which central GST is ₹30,420 crore and state GST is ₹38,226 crore. The Integrated GST is ₹87,009 crore which includes ₹39,198 crore collected on import of goods and cess of ₹12,274 crore comprising ₹ 1,036 crore collected on import of goods.
The Government has settled ₹37,878 crore to CGST and ₹31,557 crore to SGST from IGST.
The total revenue of Centre and the states in the month of November, 2023 after regular settlement is ₹68,297 crore for CGST and ₹69,783 crore for SGST. During the month, revenues from domestic transactions (including import of services) are 20 per cent higher than the revenues from these sources during the same month last year.