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.

 

Did you know?Explore Trending and Topic pages for more stories like this.

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

UNGA: India lashed out at Pakistan in the United Nations, saying- Pakistan fearlessly gives shelter to terrorists

India has once again lambasted Pakistan on the global stage. In the United Nations General Assemb

Electric vehicles policy is ready in 18 states, know! How is the car market changing?

In the last few years in India, the central government has not only emphasized increasing the con

Sabarmati Ex. Derail Conspiracy in Kanpur rail accident... this thing was kept on the track; IB will investigate Sabarmati derailment

A major accident was averted in Kanpur, Uttar Pradesh. Train number 19168, Sabarmati Express dera

5 reasons why Punjab Kings were out of the playoffs: Mayank's flop show, expensive players did not play

PBKS was touted as one of the balance teams of this season. Fans were sure that the trophy drough

Delhi: Children from class III to VIII will be promoted in the next class, worksheet, assignment weightage issued

Children from classes III to VIII studying in government and government-aided schools of Delhi wi

Yogi Adityanath Oath Ceremony: 'I take the oath of God. Yogi Adityanath became the CM of UP for the second time in a row by creating history

The swearing-in of the new government of the Bharatiya Janata Party (BJP), which came to power ag

The number of candidates in the Lok Sabha elections increased four times as compared to 1952, read how many candidates contested the first general election.

In comparison to the first general election held in 1952, the number of candidates has increased

IND vs PAK: Virat Kohli's cover drive wreaked havoc on Pakistan; Why is this shot loved so much? He revealed the secret.

India has defeated Pakistan by six wickets in the Champions Trophy. In this match played at Dubai

Naveen-ul-Haq: Who is 'Naveen' because of whom Kohli and Gambhir fought, how to reach IPL from Afghanistan

Naveen-ul-Haq continues to be in the news after the match between Royal Challengers Bangalore and

Why did Vikrant Massey decide to retire from acting? Finally, the real reason has come out!

'The Sabarmati Report' actor Vikrant Massey shocked everyone by announcing his retirement from fi

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