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GST inflows top ₹1 lakh crore
Why is it in news?
- As per the data released, gross revenues from the Goods and Services Tax (GST) crossed ₹1 lakh crore for the second month in a row.
Details:
- ₹1,04,963 crore collected in November 2020. This was 1.4% higher than a year ago.
- The pick-up in GST revenues over the last two months could reduce the shortfall in GST compensation dues to the States.
- During November, revenues from imports was 4.9% higher.
- Revenues from domestic transaction (including import of services) are 0.5% higher than the revenues from these sources during the same month last year.