The gross Goods and Services Tax (GST) collections rose 8.5 per cent to over Rs 1.82 lakh crore in November on higher revenues from domestic transactions. According to government data released on Sunday, the Central GST collection stood at Rs 34,141 crore, State GST at Rs 43,047 crore, Integrated IGST at Rs 91,828 crore and cess at Rs 13,253 crore.
The statement released by the government said the total gross Goods and Services Tax (GST) revenue grew 8.5 per cent to over Rs 1.82 lakh crore in November as compared to Rs 1.68 lakh crore in the same month a year ago.
GST collections of Rs 1.87 in October
In October, GST collections of Rs 1.87 lakh crore were the second-best GST mop-up with 9 per cent annual growth. The highest-ever collection was in April 2024 at over Rs 2.10 lakh crore.
During the month under review, GST from domestic transactions grew 9.4 per cent to Rs 1.40 lakh crore, while revenues from tax on imports rose about 6 per cent to Rs 42,591 crore.
Refunds worth Rs 19,259 crore were issued during the month, registering 8.9 per cent decline over the year-ago period. After adjusting refunds, net GST collection increased by 11 per cent to Rs 1.63 lakh crore.
Need to simplify GST and reduce cess: Ex CEA Subramanian
Meanwhile, former Chief Economic Adviser Arvind Subramanian on Friday said India’s GST regime is very complicated and there is a need to simplify this biggest indirect tax reform introduced in 2017.
“GST regime is very complicated. There are 50 (different) cess rates and if I look at other things…it might go up to 100 rates,” he said at the event organised by the Centre for Policy Research, New Delhi.
Talking about other challenges, he said, some people have pointed out to me that the goods and services tax (GST) has encouraged excessive tax demands. Observing tax terrorism and excessive demands were always features in the Indian system, he said, these have gone up under the GST.
(With PTI inputs)
Also read: ISKCON holds mass prayers across world in protest against atrocity on Hindus in Bangladesh
