Gross GST collections for November surged 8.5% year-on-year to ₹1.82 lakh crore, as per Finance Ministry data. However, a 2.7% decline compared to October’s ₹1.87 lakh crore was attributed to seasonal factors. Officials noted that such fluctuations are typical post-festive periods, with November reflecting business activity during October’s Dussehra and Diwali celebrations.
Central GST (CGST) contributed ₹34,141 crore, State GST (SGST) ₹43,047 crore, Integrated GST (IGST) ₹91,828 crore, and cess ₹13,253 crore. Of the IGST collections, ₹37,140 crore came from imported goods. Refunds issued in November amounted to ₹19,259 crore, marking an 8.9% year-on-year decline. Net GST collections, after refunds, rose by 11% to ₹1.63 lakh crore.
Domestic GST revenues grew by 9.4% year-on-year to ₹1.40 lakh crore, while GST revenues from imports climbed by 6% to ₹42,591 crore.
Regional and Seasonal Trends
October’s GST collections of ₹1.87 lakh crore represented the second-highest monthly figure ever, with a 9% year-on-year growth. April 2024 remains the record-holder with over ₹2.10 lakh crore.
Also Read | GST collections breach landmark milestone of ₹2 lakh crore
Industrial states like Haryana (2%), Punjab (3%), Uttar Pradesh (5%), Tamil Nadu (8%), and Telangana (3%) reported modest growth. Negative trends in Rajasthan (-1%), Andhra Pradesh (-10%), and Chhattisgarh (-1%) raised concerns due to their economic significance. Conversely, states like Jammu & Kashmir, Bihar, Sikkim, Mizoram, Tripura, Assam, and Odisha displayed strong growth, signalling robust economic momentum.