The Goods and Services Tax (GST) collection in February stood at Rs 1,33,026 crore. This information has been given in the figures released by the government. This time it has increased by 18% as compared to the same month a year ago.
However, taking the average of daily collections, there has been more collection than January, because February has been off 28 days while January was of 31 days. The average daily collection in January was Rs 4,464.32 crore, which increased to Rs 4,750.92 crore in February.
26% increase over February 2020
This time there has been an increase of 26% as compared to February 2020. With this, the GST cess collection has also crossed Rs 10,000 crore for the first time. This is the fifth time in a row since July 2017 that the collection has crossed Rs 1.30 lakh crore. Earlier in January, it was Rs 138,394 crore, that is, it has decreased by more than Rs 5 thousand crores.
1.29 lakh crore collection in December
According to the data, the total collection in December 2021 was Rs 1,29,780 crore, while in November it was Rs 1.31 lakh crore. There has been an increase of Rs 20 thousand crores this time as compared to Rs 1,13,143 crore in February 2021. As per the data, the GST revenue from imported goods has been 38% higher than that of domestic transactions.
26,347 crore settlement under CGST
The government has settled Rs 26,347 crore under CGST and Rs 21,909 crore under SGST. CGST stands for Central Government and SGST stands for State Government Revenue. After regular settlement of Central and State Government, CGST stood at Rs 50,782 crore and SGST Rs 52,688 crore.
Revenue increased despite restrictions imposed in Corona
This increase in revenue has come at a time when restrictions were imposed in some states in January due to Corona. It is also indicating that the third wave of Covid has not shown much effect and the fourth quarter is also going to be fine.
Impact on GDP growth
However, there was an impact on the economic data that came on Monday. GDP growth stood at 5.4% in the third quarter, which was 3% lower than the second quarter. However, there is a possibility of an impact on GDP in the fourth quarter as well.
North Korea's foreign ministry has criticized the United States for expanding joint military exer
Jio IPO to Be India’s Biggest Ever at ₹30,213 Crore, Surpassing Hyundai
Jio Platforms Limited, the digital and telecom business of Reliance Industries Limited (RIL), has
Sanjay Raut's appeal to Shinde 'Army' - come and talk, Mahavikas Aghadi will also leave
The party has once again appealed to the rebel Shiv Sena leader Eknath Shinde and his supporting
Redmi Note 17 Pro Max vs Nothing Phone (4a) Pro Which Smartphone Gives Better Value for ₹50,000?
The premium mid-range smartphone segment in India is becoming increasingly competitive, with the
After his divorce from choreographer Dhanashree, cricketer Yuzvendra Chahal was often seen with R
Dhurandhar is raking in massive earnings, and meanwhile, the teaser for the film's next installme
The Dalai Lama, the spiritual leader of Tibet, who is on a visit to Jammu, said that he is not se
Corona cases have increased once again in the country. After four consecutive days of decline, th
The month of June has begun with several important financial and banking-related changes that are
Indian-American MP Raja Krishnamurthy said Pakistan's ISI considers America as an enemy
Indian-American lawmaker Raja Krishnamurthy targeted Pakistan's terrorist activities. Krishnamurt
