Meghalaya saw growth of 27 per cent in GST revenue in November this year as compared to the same period last year.
According to data by the Finance Ministry, the GST revenue collected by Meghalaya in November this year was Rs 152 crore. In November last year it was only 120 crore.
According to the Finance Ministry, the GST revenues in the country for November 2021 have been the second highest ever since introduction of GST, second only to that in April 2021. This is very much in line with the trend in economic recovery.
For the second straight month gross GST collection crossed Rs 1.30 lakh crore. The revenues for the month of November 2021 are 25 per cent higher than the GST revenues in the same month last year and 27 per cent over 2019-20.
During the month, revenues from import of goods were 43 per cent higher and the revenues from domestic transactions (including import of services) were 20 per cent higher than the revenues from these sources during the same month last year.
The recent trend of high GST revenues has been a result of various policy and administrative measures that have been taken in the past to improve compliance. Central tax enforcement agencies, along with the State counterparts have detected large tax evasion cases, mainly cases relating to fake invoices, with the help of various IT tools developed by GSTN that use the return, invoice and e-way bill data to find suspicious taxpayers.
A large number of initiatives undertaken in the last one year like, enhancement of system capacity, nudging non-filers after last date of filing of returns, auto-population of returns, blocking of e-way bills and passing of input tax credit for non-filers have led to consistent improvement in the filing of returns over the last few months.
The gross GST revenue collected in the month of November 2021 is Rs 1,31,526 crore of which CGST is Rs 23,978 crore, SGST is Rs 31,127 crore, IGST is Rs 66,815 crore (including Rs 32,165 crore collected on import of goods) and Cess is Rs 9,606 crore (including Rs 653 crore collected on import of goods).
The government has settled Rs 27,273 crore to CGST and Rs 22,655 crore to SGST from IGST as regular settlement. The total revenue of Centre and the states after regular settlements in the month of November 2021 is Rs 51251 crore for CGST and Rs 53,782 crore for the SGST.