The GST collection for the month of November show a 6% growth from the same month previous year. The total collection was over Rs 1.03 lacks crore. The collection was Rs 97637 crore in November,2018. The collection for October was Rs 95380 crores.
There has been a steady decline in GST growth rate till October. This month marks a reversal to the trend. It must be noted GST collection of November is based on the economic activity of October, which was a festive month. Even the car sales which witnessed a steady decline, showed some positive trend.
The month on month trend also showed a positive movement in November. There is over 8% growth with respect to October, 2019.
The trends in car sales and the GST collection show some positive trend in the festive season. Now it remains to be seen whether this trend holds in the coming month. The economy has been witnessing a decline in demand as argued by many. This positive trend in GST collection suggests some surge in demand. It will be important to see whether this surge is just because of the festive season or whether it is more consistent.