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

Sidhu-Gambhir Dance: 'Sauda Khara-Khara', coach Gambhir did Bhangra with Sidhu in celebration of victory.

India won the title by defeating New Zealand in the final of the Champions Trophy 2025. After thi

China: There is a possibility of the spread of the COVID epidemic due to a leak in China's lab - FBI director

China has always been considered the reason for the spread of the coronavirus in the world. At th

Salman Khan: 'Won't you welcome?' Salman Khan's entry in ISPL, Bhaijaan becomes the owner of the Delhi franchise, know more

Before the start of the third season of the Indian Street Premier League (ISPL), the name of acto

Delhi Chunav 2025: Our MLAs raised the challenge for AAP candidates, tickets of more than 20 MLAs were cut

In Delhi Chunav 2025, the challenge is more on those seats where Aam Aadmi Party (AAP) had cut th

Economy: Fear of sluggish growth in the economy will help in controlling inflation, the Finance Ministry said - continuous efforts to bring GDP back on track

Like the global GDP, the Indian economy is expected to slow down. However, it will help in contro

Dharmendra Health Update: Hema Malini was seen outside the hospital, and sadness was visible on her face.

Hema Malini looked extremely sad when she was spotted outside Mumbai's Breach Candy Hospital, whe

Prithvi Shaw Selfie Row: Problems may increase for cricketer Prithvi Shaw, Sapna Gill lodges complaint

A Mumbai court on Monday granted bail to Sapna Gill and three other accused in the case of allege

Munambam Waqf Land Dispute: 'Waqf land will be investigated', Kerala HC orders formation of judicial commission

A division bench of the Kerala High Court heard the case of Munambam land dispute in Kerala on Mo

Native UPI raises US-China concern: 22 crore online payments are being done daily in India, know the specialty of UPI

UPI is one such Indian technology that has surprised western countries. UPI payment is being adop

IND vs ENG: Anderson and Mark Wood can play together in the third test, and Ben Stokes will play the 100th test of his career.

The third match of the five-Test series between India and England will be played in Rajkot from T

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