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.
On Tuesday, on the occasion of World Population Day, family welfare promotion honor ceremonies wi
The fourth match of the five-Test series between India and England will be played in Ranchi. Both
Inflation is ready to give another big blow in July. The common man is going to get this blow fro
Terror Funding: SIA raids Bathindi in terror funding case, suspected to be linked to Jamaat-e-Islami
The State Investigation Agency (SIA) of Jammu and Kashmir on Wednesday conducted raids in Bathind
Visa can be cancelled if you commit a crime in America. The US Embassy in India has warned that v
The scorching heat is occurring in large parts of the country including the capital Delhi. From t
Mahendra Singh Dhoni is called the greatest finisher in the world of cricket. Fans were hoping th
While there is a demand for making laws for population control in the country, politics has also
Six owners of the Indian Premier League franchise have bought all six teams of South Africa's new
The rising prices of petrol and diesel for the past few days put a brake on Thursday, but the pri
