InvestorQ : Have the GST collections for the month of November improved and what does it say about growth rates?
Dilmini Mercia made post

Have the GST collections for the month of November improved and what does it say about growth rates?

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Dawn Cherian answered.
1 month ago
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Goods and service tax collections for November 2020 stood was largely stable at Rs.104,000 crore. This is only marginally lower than the previous month. The good news is that the GST collections are once again sustaining above the Rs.1 trillion levels. After the pandemic, this was the second consecutive month of collections clocking more than Rs 1 trillion.

There was an overall improvement in revenues across the board. The revenues from import of goods were 4.9% higher while the revenues from domestic transaction were 0.5% higher on a YOY basis. Clearly, trade traction is building up even as local growth triggers are turning favorable for the Indian economy.

This is surely indicative of continued economic recovery, especially coming after the months of disappointing collections during the pandemic. However, that is unlikely to alter substantially the shortfalls in revenues during the full fiscal year.

Out of the overall collections in the month of November, Central GST stood at Rs.19,189 crore, State GST at Rs.25,540 crore, integrated GST or IGST at Rs.51,992 crore. There was an across-the-board increase in the number of GSTR-3B Returns filed for the month of November.

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