INSUBCONTINENT EXCLUSIVE:
the Goods and Services Tax (GST) slided to Rs 97,637 crore in November
The revenue collected in November relates to transactions made in October
The total GST revenue collected in October (for September) was Rs 1,00,710 crore.The Finance Ministry said a total of 69.6 lakh GSTR-3B
returns were filed till November 30, bringing in Rs 16,812 crore as Central GST (CGST), Rs 23,070 crore as state GST (SGST), Rs 49,726 crore
as Integrated GST (IGST) and Rs 8,031 crore as cess.While the CGST and SGST showed a marginal improvement over last month when they were Rs
16,464 crore and Rs 22,826 crore, respectively, the shortfall in revenue was mainly on account of IGST which was Rs 53,419 crore in October
The cess collected in October was Rs 8,000 crore."The government has settled Rs 18,262 crore to CGST and Rs 15,704 crore to SGST from IGST
The total revenue earned by the Central and state governments after regular settlement in the month of November is Rs 35,073 crore for CGST
and Rs 38,774 crore for the SGST," the Finance Ministry statement said.Rs 11,922 crore has been released to the states as GST compensation
for the months of August and September, it said.
