GST collection stands at 1.33 lakh crore in February

This is the fifth time that the GST collection has crossed the Rs 13 lakh crore mark.

GST collection in February got on over Rs 1.33 lakh crore, reporting a bounce of 18 percent year-on-year basis, the Finance Ministry announced on Tuesday. However, February is the fourth month when Goods and Services Tax (GST) collection has passed the Rs 1.30 lakh crore and eighth month in a continuation when it remained above the Rs 1 lakh crore mark.

“The gross GST revenue received in the month of February 2022 is Rs 1,33,026 crore of which CGST is Rs 24,435 crore, SGST is Rs 30,779 crore, IGST is Rs 67,471crore (comprising of Rs 33,837 crore received on import of goods) and cess is Rs 10,340 crore (including Rs 638 crore collected on import of goods),” the release announced.

The revenue remained over the Rs 1.30 lakh crore mark even after the Omicron-led curbs in the month of February, which is also shorter due to 28-days in the month, the Finance Ministry asserted.

“February, being a 28-day month, generally notices revenues lower than that in January. This huge improvement during February 2022 should also be recognized in the context of partial lockdowns, weekend and night curfews and numerous constraints that were put in place by several States due to the omicron wave, which peaked around 20th January,” the report noted. The GST collection in January 2022 had surpassed Rs 1.38 lakh crore mark.

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time