Gross GST collections in TS up by 8% last month
HYDERABAD: Telangana has logged eight per cent growth in gross GST collections in November. According to the data released by the union finance ministry on Thursday on GST collections for November, Telangana's GST collections increased to Rs 4,228 crore. During the corresponding month last year, the GST collections were at Rs 3,931 crore.
Andhra Pradesh witnessed a 14 per cent growth. Its GST collections increased from Rs 2,750 crore in November 2021 to Rs 3,134 crore last month.
At the national level, the gross GST revenue collected in November was Rs 1,45,867 crore of which CGST was Rs 25,681 crore, SGST Rs 32,651 crore, IGST RS 77,103 crore (including RS 38,635 crore collected on imports) and cess Rs 10,433 crore (including Rs 817 crore collected on imports).
The Centre has settled `33,997 crore to CGST and `28,538 crore to SGST from IGST as regular settlement. The total revenue of the Centre and the states after regular settlements in November was Rs 59,678 crore for CGST and Rs 61,189 crore for SGST. In addition, the Centre had also released Rs 17,000 crore as GST compensation to states/UTs in November.
The revenues for this year’s November were 11 per cent higher than the GST revenues in the same month last year, which itself was Rs 1,31,526 crore. During the month, revenues from import of goods were 20 per cent higher and revenues from domestic transactions (including import of services) were eight per cent higher than the revenues from these sources last year.