GST collection increased
Positive impact of GST rate cut has been seen in the country in the month of November. According to government data released on Monday, gross GST collection increased by 0.7 percent to Rs 1.70 lakh crore in November. Gross Goods and Services Tax (GST) collection in November 2024 was Rs 1.69 lakh crore. Which has increased this year.
However, GST revenue declined by 2.3 percent to more than Rs 1.24 lakh crore. This decline has come after the reduction in GST rate for 375 items implemented from September 22. Meanwhile, revenue from import of goods has increased in November. Import revenue has increased by 10.2 percent to Rs 45,976 crore. Net GST revenue in November stood at Rs 1,52,079 crore, which is 1.3% more than last year. Moreover, year-on-year net revenue reached Rs 12,79,434 crore with an annual growth of 7.3%. Refunds saw a mixed pace as total refunds were recorded at Rs 18,196 crore, down 4% year-on-year, export refunds grew 3.5%, while domestic refunds declined 12%.
States’ revenue has also increased
In the month of November, not only has the country’s overall collection increased compared to last year. In fact, the collection of big states of the country has also increased. Haryana’s collection has increased by 17 percent, Kerala’s by 8 percent and Assam’s collection by 18 percent. Apart from this, the collection of Gujarat and Tamil Nadu has increased by 1 and 2 percent. Also, an increase of 6 percent has been seen in Rajasthan.
How much was the collection last month?
After the GST rate cut, the collection in the month of November may have increased year-on-year. But, there has been a decline in comparison to the previous months. The total GST collection in October had increased to Rs 1.96 lakh crore from Rs 1.89 lakh crore in September. At the same time, in May 2025, the collection had crossed the figure of Rs 2 lakh crore. This month the collection has decreased compared to previous months.