GST collections declined in Nov

New Delhi : Goods and services tax (GST) collections slipped for a second straight month in November, to Rs 80,808 crore, down from over Rs 83,000 crore in the previous month, reports PTI. The total GST collection stood at Rs 80,808 crore for November and 53.06 lakh returns have been filed for the month, a finance ministry statement said.

 Of the Rs 80,808 crore collected, Rs 7,798 crore has been garnered as compensation cess in November – the fifth month of the GST roll out. Besides, Rs 13,089 crore has been collected as Central GST (CGST), Rs 18,650 crore as State GST (SGST), and Rs 41,270 crore as Integrated Goods and Services Tax (IGST). Furthmore, Rs 10,348 crore is being transferred from the IGST to the CGST account and Rs 14,488 crore is being transferred from the IGST to the SGST account by way of a settlement of funds on account of cross utilisation of the IGST credit for payment of CGST and SGST, respectively or due to inter-state business to consumer transactions. Thus, a total amount of Rs 24,836 crore is being transferred from the IGST to the CGST/SGST account by way of the settlement, the statement added. GST collections in July were over Rs 95,000 crore, while in August the figure was over Rs 91,000 crore. In September, it was over Rs 92,150 crore and in October it was over Rs 83,000 crore.