India’s GST Collection Tops ₹1.82 Lakh Crore in November
Taxes
India’s gross Goods and Services Tax (GST) revenue reached ₹1.82 lakh crore in November, a marked 8.5% increase compared to ₹1.68 lakh crore in the same month last year.
This positive collection figure reflects a 9.4% rise in GST collections from domestic transactions, reaching ₹1.40 lakh crore. Additionally, GST revenue from imports saw a 6% increase to ₹42,591 crore.
After adjusting for ₹19,259 crore in refunds, representing an 8.9% decline compared to the previous year, net GST collection stood at ₹1.63 lakh crore.
This success comes after October witnessed
How can we differentiate between GST growth driven by genuine economic expansion and growth merely reflecting inflationary pressures? [[1](https://www.businesstoday.in/latest/economy/story/gst-collections-increase-by-85-percent-to-reach-rs-182-lakh-crore-in-november-455792-2024-12-01)]
**Host:** Welcome back to the show. Joining us today is economist Dr. Asha Sharma to discuss India’s impressive GST collection figures for November, topping ₹1.82 lakh crore. Dr. Sharma, these numbers paint a positive picture, but what’s your take on this growth, and what could it signify for the Indian economy?
**Dr. Sharma:** The 8.5% year-on-year increase in GST collection is certainly encouraging and suggests robust economic activity within the country. The rise in both domestic transactions and import-related GST revenue points towards a strengthening consumption pattern and growing international trade. However, it’s important to consider the broader economic context. Some might argue that this growth could be attributed to inflationary pressures pushing up prices, leading to higher tax collection. So, while the figures are positive, do you think this growth signifies genuine economic expansion, or is it merely a reflection of inflation?