Goods and Services Tax (GST) revenue for November 2022 reached a significant £1.46 lakh crore, marking an 11% increase compared to the same month last year. This marks the ninth consecutive month where GST collections have surpassed £1.4 lakh crore. The growth was driven by a 20% rise in revenue from imported goods and an 8% increase from domestic transactions.
₹1,45,867 crore gross GST revenue collected for November 2022, records increase of 11% Year-on-Year
Monthly GST revenues more than ₹1.4 lakh crore for nine straight months in a row
Revenues from import of goods 20% higher and revenues from domestic transaction (including import of services) 8%
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FAQ :
The gross GST revenue collected in November 2022 was £1,45,867 crore.
GST revenue in November 2022 was 11% higher than in November 2021.
Revenues from the import of goods were 20% higher, and revenues from domestic transactions (including the import of services) were 8% higher than in the same month last year.
GST revenues have exceeded £1.4 lakh crore for nine consecutive months.
The gross GST revenue included £25,681 crore CGST, £32,651 crore SGST, £77,103 crore IGST, and £10,433 crore Cess.