The total GST revenue collected in November 2023 amounted to ₹1,67,929 crore, divided into various components: CGST at ₹30,420 crore, SGST at ₹38,226 crore, IGST at ₹87,009 crore (inclusive of ₹39,198 crore from import of goods), and cess at ₹12,274 crore (including ₹1,036 crore from import of goods).
From the IGST collection, the government allocated ₹37,878 crore to CGST and ₹31,557 crore to SGST. Following the regular settlement, the combined revenue for CGST stood at ₹68,297 crore, while SGST recorded ₹69,783 crore for November 2023.
Compared to the same period in the previous year, the November 2023 revenues marked a 15% increase, marking the highest monthly revenue for 2023-24 until November. Domestic transaction revenues, including import of services, surged by 20% compared to the corresponding period last year. This November’s gross GST collection surpasses ₹1.60 lakh crore for the sixth time in FY 2023-24. The total GST collection for FY 2023-24 ending in November 2023 stood at ₹13,32,440 crore, averaging ₹1.66 lakh crore per month, reflecting an 11.9% growth compared to FY 2022-23’s collection ending in November 2022 at ₹11,90,920 crore, averaging ₹1.49 lakh crore per month.