GST Collection for November 2022

GST collection for November 2022 is Rs.1,45,867 crore and has dropped from Rs.1,51,718 crore, which was GST collections for October 2022. Yet, it has grown by 11% Year-on-Year (YoY) basis, which was Rs.1,31,526 crore. The monthly collections have crossed the Rs.1.4 lakh crore mark for nine months in a row. The data was released over the PIB by the Ministry of Finance.

The government had reported GST Collection – September 2022 as Rs.1,47,686 crore, much higher than the GST collection for November 2022.

Break up of GST Collection for November 2022

The GST collection comprised Rs.25,681 crore CGST, Rs.32,651 crore SGST, and Rs.77,103 crore IGST (including Rs.38,635 crore GST collected on the import of goods). As per the PIB report, the cess collections stood at Rs.10,433 crore (including Rs.817 crore collected on the import of goods.

According to the government’s report, the Centre made a settlement of Rs.33,997 crore and Rs.28,538 crore in November 2022 as CGST and SGST, respectively, out of the Integrated GST collection.

Moreover, it released Rs.17,000 crore towards GST compensation to the state governments and Union Territories in November 2022. The cumulative revenue of the Centre and states after making the regular settlements in November 2022 amounts to Rs.59,678 crore for Central GST and Rs.61,189 crore for State GST.

Analysis of the GST Collection for November 2022

Despite a few big Indian festivals celebrated in November 2022, there is a drop in GST collection November 2022 by 4% Month-on-Month (MoM) basis.

The GST revenues for November 2022 are 11% higher than the GST revenues in the same period during the previous year. The GST collection November 2021 were reported as Rs. 1.31,526 crore. Check the below chart for a YoY comparison of monthly revenues.

During November 2022, GST revenues from the import of goods were 20% higher. The GST revenues from domestic transactions and service imports were 8% higher than last year’s last month.

The Centre continues to check tax evasion with the implementation of a sequential return filing system and restrictions on Input Tax Credit (ITC) claims. Businesses are becoming vigilant of vendors’ GST compliance as that allows a timely claim of ITC. 

Therefore, the GST revenue collection are expected to keep a steady momentum in its growth with such measures in place. Further, The GST revenue may again spike up during the last month of the calendar year due to GSTR-9/9C filing for FY 2021-22, vacations and the holiday season.

GST Collection for November 2022 State-wise

GST collection in Ladakh saw the highest YoY rise at 273% compared to November 2021, followed by the other territory at 93%. Daman and Diu, Arunachal Pradesh and Manipur further followed it.

Just like in October 2022, Maharashtra has outnumbered other states in terms of the total state-wise GST collection November 2022 at Rs.21,611 crore. States such as Karnataka, Gujarat, Tamil Nadu, and Uttar Pradesh follow suit.

On the downside, some states and territories put up a dismal performance showing degrowth in November 2022. Prominent ones include Goa, Lakshadweep, Punjab, Himachal Pradesh, Andaman and Nicobar Islands and Centre jurisdiction.

State/UT	November 2021	November 2022	Growth %
Jammu and Kashmir	383	430	12%
Himachal Pradesh	762	672	-12%
Punjab	1,845	1,669	-10%
Chandigarh	180	175	-3%
Uttarakhand	1,263	1,280	1%
Haryana	6,016	6,769	13%
Delhi	4,387	4,566	4%
Rajasthan	3,698	3,618	-2%
Uttar Pradesh	6,636	7,254	9%
Bihar	1,030	1,317	28%
Sikkim	207	209	1%
Arunachal Pradesh	40	62	55%
Nagaland	30	34	11%
Manipur	35	50	42%
Mizoram	23	24	3%
Tripura	58	60	3%
Meghalaya	152	162	6%
Assam	992	1,080	9%
West Bengal	4,083	4,371	7%
Jharkhand	2,337	2,551	9%
Odisha	4,136	4,162	1%
Chhattisgarh	2,454	2,448	0%
Madhya Pradesh	2,808	2,890	3%
Gujarat	9,569	9,333	-2%
Daman and Diu	Less than crore	Less than crore	67%
Dadra and Nagar Haveli	270	304	13%
Maharashtra	18,656	21,611	16%
Karnataka	9,048	10,238	13%
Goa	518	447	-14%
Lakshadweep	2	Less than crore	-79%
Kerala	2,129	2,094	-2%
Tamil Nadu	7,795	8,551	10%
Puducherry	172	209	22%
Andaman and Nicobar Islands	24	23	-7%
Telangana	3,931	4,228	8%
Andhra Pradesh	2,750	3,134	14%
Ladakh	13	50	273%
Other Territory	95	184	93%
Center Jurisdiction	180	154	-14%
Grand Total	98,708	1,06,416	8%

The GST Collection November 2022 was reported by the Ministry of Finance through the press release over the PIB on 1st December 2022. Moreover, the 48th GST Council meeting will happen on 17th December 2022 and will be chaired by the Union Finance Minister Nirmala Sitharaman.