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

NMC: NMC invites applications from people coming from Pakistan to study allopathy

The National Medical Commission on Friday sought applications from minorities from Pakistan. The

Successful test of Russia's Zircon missile: 9 times faster than the speed of sound, capable of destroying targets up to 1 thousand km

More than 95 days have passed since the Russo-Ukraine war, and even after so much time, no clear

Despite the BCCI's wishes, why can't Vaibhav Suryavanshi make his debut for the Indian team? Here's the answer.

Vaibhav Suryavanshi played a crucial role in India's sixth Under-19 World Cup victory with his ex

Smriti Mandhana will become a bride after the World Cup victory, and will take seven rounds with the Bollywood director on this day.

The Indian women's cricket team made history by winning the ODI World Cup on November 2nd. The wo

G-20 Summit: White House praised PM Modi, said- Biden is feeling positive

The G-20 summit held under the chairmanship of India this year was very successful. The success o

Rakul-Jackky Wedding: Paparazzi openly said such a thing to Rakul Preet Singh, Jackie's bride turned red with shame

Rakul Preet Singh-Jackky Bhagnani Wedding: Rakul Preet Singh and Jackky Bhagnani have now joined

Bigg Boss Malayalam 7: Mohan Lal's Big Boss started before Salman Khan, 19 contestants entered in season 7

The reality show Big Boss is the most popular show on TV. While Bollywood superstar Salman Khan h

Coronavirus Updates: Less than one thousand cases of corona in India after five days, 861 new cases in 24 hours

There has been a decline in Coronavirus Updates in India again. Five days later, less than one th

Morbi Bridge Collapse: Chinese President Xi Jinping mourns the tragedy in Gujarat

Chinese President Xi Jinping has sent a condolence message to President Draupadi Murmu and Prime

No support from AIUDF, AAMSU is required for redesigning district boundaries: Assam CM

There has been a continuous protest by political parties and organizations against the Assam gove

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