India’s Goods and Services Tax revenue stood at Rs 1,45,687 crore in November 2022, 11% higher than a year ago, but nearly 4% below October’s collections of Rs 1,51,718 crore.
Of the total revenue collection in November, the central GST component amounted to Rs 25,681 crore and state GST to Rs 32,651 crore. Revenue generated from integrated GST stood at Rs 77,103 crore, while GST cess amounted to Rs 10,433 crore.
“The sequential dip in collections in November 2022 relative to October 2022, reflects the boost from quarter-end payments in the latter month, as the inflows in each month pertain to the activity in the previous month,” said Aditi Nayar, chief economist at ICRA, Mint reported.
She added: “Moreover, while festive spending is assessed to have been high in October 2022, the generation of GST e-way bills had moderated sequentially given a higher number of holidays in that month.”
Six states collected less GST as compared to last month. These are Gujarat, Rajasthan and Kerala (-2%), Punjab (-10%), Himachal Pradesh (-12%) and Goa (-14%).
The highest revenue was reported from Arunachal Pradesh (55%), Manipur (42%), Bihar (28%), Maharashtra (16%), Karnataka and Haryana (13%), Andhra Pradesh (14.6%), and Tamil Nadu (10%).
Meanwhile, revenues from the import of goods were 20% higher while domestic transactions, including the import of services, yielded 8% more taxes than in November 2021.