GST Collection Shows Marginal Growth Amid Decline in Domestic Revenue

The Gross Goods and Services Tax (GST) collection in November witnessed a marginal growth of 0.7% to Rs 1.70 lakh crore, in contrast to a decline of 2.3% in domestic revenues to Rs 1.24 lakh crore, following a GST rate cut for 375 items. Meanwhile, revenues from imported goods increased by 10.2%.

In November, India's Gross Goods and Services Tax (GST) collection saw a slight increase, rising by 0.7% to reach Rs 1.70 lakh crore, official data released Monday reveals. This minor swell follows adjustments in GST rates.

However, domestic revenues experienced a downturn, falling by 2.3% to Rs 1.24 lakh crore. This decline aligns with the recent reduction of GST rates for 375 items, effective since September 22.

In contrast, the period saw a notable rise in revenue from imported goods, which grew by 10.2%, amounting to Rs 45,976 crore. The mixed results indicate shifting trends in the nation's tax landscape.

(With inputs from agencies.)