GST mop-up hits Rs 1.31 trn in Nov, second highest ever

Goods and Service tax (GST) collection grew about 25 per cent year on year to Rs 1.31 trillion in November, the second highest mop-up ever, the official data showed on Wednesday, giving expert’s confidence that GST receipts would surpass the Budget projections for 2021-22. The highest collection was recorded in April this year at Rs 1.40 trillion.

Ever as e-way bills generated in October were at a record high of 73.5 million the collection in November trailed the April figures. Transaction in a month yield GST collection in the following month. In March 71.2 million e-way bills were generated. The finance ministry said the April figures were linked to year-end revenues. As such, there is a bump in April collections.

GST collection crossed the Rs 1.3 trillion mark for the second straight month in November. This is in line with the trend in economic recovery the ministry said in a statement.

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