New Delhi: Revenue from Goods and Services Tax (GST) rose 12% in February this year. The overall GST collections in last month is at Rs 1.49 lakh crore. But the collections are lower when compared with January. In January, GST collections crossed Rs 1.58 lakh crore. It was the second highest monthly revenue figure since the rollout of GST on July 1, 2017.
‘Rs 1,49,577 crore gross GST revenue collected in February 2023; 12 per cent higher than GST revenue in same month last year,’ the Union Finance ministry said in a statement. Generally, February being a 28-day month, registers a relatively lower collection of GST revenue.
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As per the ministry data, out of the gross GST revenue, Central GST was Rs 27,662 crore, State GST was Rs 34,915 crore, Integrated GST was Rs 75,069 crore (including Rs 35,689 crore collected on import of goods) and Cess was Rs 11,931 crore (including Rs 792 crore collected on import of goods). The cess collection of Rs 11,931 crore was the highest since implementation of GST.
During the month, revenues from domestic transaction (including import of services) were 15% higher while revenues from import of goods was 6% higher compared to February 2021.
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