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GST collections likely to be 10-month high in November: SBI Ecowrap
Nov-27-2020

Amid improved economic activities, the SBI Ecowrap in its latest report has showed that the Goods and Services Tax (GST) collections are likely to be 10-month high of Rs 1.08 lakh crore in November as compared to Rs 1.05 lakh crore in October 2020.

According to the report, the November 2020 collections will be very close to January 2020 collections (Rs 1.10 lakh crore). It said that the continued improvement in GST is mainly due to traction in economic activities and services in festive month of November.

Besides, the yearly SBI Composite Index has now reached a 19-month high of 53.9 (Moderate Growth) in November 2020, compared to 53.0 (Moderate Growth) in October 2020, and 50.8 (Low Growth) in November 2019. Further, the monthly index touched the all-time high of 62.1 (High Growth) in November, compared to 59.3 (High Growth) in October and 49.96 (Low Growth) in November.

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