India’s gross GST collection rose at a slower pace of 0.7% in November at Rs 1.70 lakh crore from Rs 1.69 lakh crore in November 2024. According to the government data released on Monday, December 1, gross domestic revenues declined 2.3% to over Rs 1.24 lakh crore.
Domestic collections weaken after GST rationalisation
The decline follows the reduction of GST rates for 375 items, effective September 22. Revenues from the import of goods grew 10.2% to Rs 45,976 crore in November.
GST collection in October- A recap
In the previous month of October, GST collections were in absolute terms higher than both in September and August (Rs 1.89 lakh crore and Rs 1.86 lakh crore respectively) and at the same level as in July.