Cross 1.30 lakh crore for the fifth time: GST collection in February stood at Rs 1.33 lakh crore, up 18% compared to a year ago


Posted on 1st Mar 2022 02:30 pm by rohit kumar

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.

1 Like 0 Dislike
Previous news Next news
Other news

The teaser of the new song 'Jalwanuma' from 'Heropanti 2' came in front, this song by Tiger-Tara will be released on this day

Bollywood's handsome actor Tiger Shroff is in the news these days for his upcoming film Heropanti

One Plus's best battery phone launch, know what is the price

OnePlus 10R 5G On Amazon: Back to back new smartphones are being launched in the market. OnePlus

Nepal's economic condition bad: Big loss to India; Nepal bans import of all non-essential goods, only 6 months of foreign money left

After Sri Lanka, now the economic situation in Nepal with a population of 30 million has started

JAC Admit Card: Academic Council has issued class 10th-12th admit card, download like this

Jharkhand Board Exams 2022: Secondary and Intermediate i.e. class 10th and 12th board examination

Government's new decision on Agneepath: 10% reservation for Agniveers in Central Armed Forces and Assam Rifles; age relaxation also

The Ministry of Home Affairs has decided to provide a 10% reservation for Agniveers for recruitme

Udaipur Case: Statement of Amit Mishra, Irfan Pathan, and Venkatesh Prasad on Udaipur incident, said- the life of an innocent...

In Udaipur, Rajasthan, a man was slit to death for supporting Nupur Sharma's controversial statem

Alia Bhatt Ranbir Kapoor Wedding: Amitabh Bachchan wishes Alia-Ranbir a new journey, said- 'Let the celebration begin'

The wedding preparations and rituals began on Wednesday at actress Alia Bhatt and actor Ranbir Ka

IPL's 'El Clasico' today: Chennai will go down to win the second consecutive victory against Mumbai, know the possible playing-11 of both the teams

Five-time champion Mumbai Indians will face four-time champion Chennai Super Kings today in the 3

Russia-Ukraine Crisis: China got a chance to teach a lesson to America, did not tell Russian action to attack

China on Thursday said on the Russian "attack" in Ukraine that it stands by its stand to resolve

Agnipath: Ruckus, arson-sabotage in more than 60 districts, know what happened so far regarding the Agnipath scheme?

Five days have been completed since the launch of the Agneepath scheme of the Central Government.

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash