Kerala GST Revenue for November up by 20 Percent

Kerala’s GST revenue increased by 20% in November compared to the same month last year. Last November’s collection of Rs. 2,094 crore increased to Rs. 2,515 crore this year.

GST revenue increased by 11.89% year over year to October 2023, from Rs. 16,412.21 crore to Rs. 18,362.83 crore. However, total VAT collection has decreased from Rs 214.65 crore in October 2022 to Rs 175.25 crore in October 2023.

KGST revenue collections from petroleum and liquor sales increased by 3.40%, from Rs 13,527.75 crore to Rs 13,987.54 crore. The overall tax revenue increased 7.86% from Rs 30,154.61 crore to Rs 32,525.62 crore.

Settelement of IGST

Until October, the state received Rs 10,287.6 crore in IGST settlement. The state, however, faced a setback when the Union government deducted Rs. 332 crore from the November IGST settlement. Kerala had projected Rs. 1,452 crore in IGST settlement in November, according to Finance Minister K. N. Balagopal.