GST revenue up 7% year-on-year in February to over ₹1.13 lakh crore

GST revenue up 7% year-on-year in February to over ₹1.13 lakh crore
Business Insider India
GST collections crossed the ₹1 lakh crore-mark for the fifth month in a row in February, rising 7 per cent to over ₹1.13 lakh crore, indicating economic recovery, the Finance Ministry said on Monday. The collection is, however, lower than the record ₹1,19,875 crore collected in the previous month.

The gross GST revenue collected in February 2021 is ₹1,13,143 crore, of which CGST is ₹21,092 crore, SGST is ₹27,273 crore, IGST is ₹55,253 crore (including ₹24,382 crore collected on import of goods) and Cess is ₹9,525 crore (including ₹660 crore collected on import of goods).

"In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of February 2021 are 7 per cent higher than the GST revenues in the same month last year.

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"During the month, revenues from import of goods were 15 per cent higher and the revenues from the domestic transaction (including import of services) are 5 per cent higher than the revenues from these sources during the same month last year," the ministry said in a statement.


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