GST Collection November 2023: The gross GST revenue collected in the month of November 2023 is Rs 1,67,929 crore out of which CGST is Rs 30,420 crore, SGST is Rs 38,226 crore, IGST is Rs 87,009 crore (including Rs 39,198 crore collected on import of goods) and cess is Rs 12,274 crore (including Rs 1,036 crore collected on import of goods).
The government has settled Rs 37,878 crore to CGST and Rs 31,557 crore to SGST from IGST. The total revenue of the Centre and the States in the month of November 2023 after regular settlement is Rs 68,297 crore for CGST and Rs 69,783 crore for the SGST.
The revenues for the month of November 2023 are 15% higher than the GST revenues in the same month last year and the highest for any month year-on-year during 2023-24, up to November 2023. During the month, the revenues from domestic transactions (including import of services) are 20% higher than the revenues from these sources during the same month last year.
It is for the sixth time that the gross GST collection has crossed the Rs 1.60 lakh crore mark in FY 2023-24. The gross GST collection for the FY 2023-24 ending November 2023 [Rs 13,32,440 crore, averaging Rs 1.66 lakh per month] is 11.9 % higher than the gross GST collection for the FY 2022-23 ending November 2022 [Rs 11,90,920 crore, averaging Rs 1.49 lakh crore per month].
