GST inflows top ₹1 lakh crore for second month in a row

Gross revenues from the goods and services tax(GST) crossed ₹1 lakh crore for the second month in a row, with ₹1,04,963 crore collected in November 2020. This was 1.4 % higher than a year ago but a tad lower than October’s collection.

The pick up in GST revenues over the last two months could reduce the shortfall in GST compensation does to the states, but economists urged caution till December to assess if the economy is truly out of the woods after the festive factor has played out .

Cumulatively, the gst revenues from the first eight months of 2020-2021 add up to ₹6,64,709 crores reflecting a 17.4% dip from the ₹8,05,164 crore collected in the same period of 2019-2020.

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