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.
Zepto IPO Faces Fresh Trouble: ED Probes Founders Over FEMA Violations Ahead of Mega Listing
India’s booming quick-commerce sector has encountered a fresh twist as Zepto, the company k
The Maharashtra government has launched an emergency WhatsApp helpline for state citizens strande
People's favorite Rocky Bhai has set the screen on fire even once through KGF Chapter 2. The film
Prime Minister Narendra Modi will present Chamba Rumal, Kangra Miniature Paintings, Kinnauri Shaw
Rajasthan Royals' young opener Vaibhav Suryavanshi touched Mahendra Singh Dhoni's feet and conclu
Kulwinder Kaur, the CISF female constable who came into the news after slapping Bollywood Queen a
There is a huge water crisis in Delhi. There is a shortage of water in every area of Delhi,
The Supreme Court recently said that education should not be made a business. But on Wednesday, a
The hearing on the bail application of one of the accused was held on Monday in the case of the r
A very powerful picture emerged from the platform of the Shanghai Cooperation Organization (SCO)
