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Homechevron_rightBusinesschevron_rightAbove 1.04 lakh crore...

Above 1.04 lakh crore GST collection for November

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Above 1.04 lakh crore GST collection for November
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Goods and Service Tax (GST) collection, Foreign Direct Investments (FDI) and Foreign Portfolio Investment (FPI) for last month marked higher than November 2019. Gross GST revenue for month November collected at 1, 04,963 crore, which is 1.4 per cent higher in comparison with the same month last year. It is the second consecutive month in which Gross GST revenue crossed 1 lakh crore rupees and third consecutive month where GST collections are higher than Y-o-Y. FDI equity inflows touch US$ 30,004 million up to September 2020 in the current financial year, which is calculated as 15% more than the corresponding period of 2019-20.

"The Indian growth story continues to expand as is demonstrated by the trends in FPI, FDI and Corporate Bond Market flow that indicate and underline the beliefs of investors in the strength and resilience of Indian economy" Ministry of Finance notified.

Total of 82 lakh GSTR- 3B returns filed in November. Interstate comparison shows a disproportionate economic revival after easing lockdown restrictions, while States such as Maharashtra and Telangana exhibited a negative performance in Y-o-Y basis. However, states like Gujarat, Tamil Nadu and West Bengal had an increase in GST revenues in November 2020 in comparison with last year.

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TAGS:Tax Updaes GST Collection Modi govt 
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