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

Russia-Ukraine War Updates: Russia said – we are not responsible for the global food crisis, and will not stop if there is food on Ukraine's ships

The Russo-Ukraine war is not coming to an end. Along with this, the food crisis, that is, the foo

'PM Modi is afraid of Trump': Rahul attacks PM over US President's claim about Russian oil purchases

Congress leader Rahul Gandhi has once again launched a scathing attack on PM Modi, accusing him o

Vijay Rashmika: Amid wedding rumours, are Vijay and Rashmika headed to Udaipur? They were spotted at the airport in this style.

Rashmika Mandanna and Vijay Deverakonda's wedding news is currently a hot topic in B-town. Report

Avesh Khan's yorker broke the bat: Three consecutive yorkers were thrown in an over against South Africa, and Dussen's bat was torn in two

In the first T20 match between India and South Africa played at the Arun Jaitley Stadium in Delhi

'Modi Ji is the king and there is police rule in India', arrests Rahul Gandhi attacks the Center

Congress leader Rahul Gandhi was detained by Delhi Police on Tuesday. Rahul along with other Cong

Maha Kumbh: 62.25 lakh people have taken an Amrit bath on Vasant Panchami so far, flowers were showered on the devotees from a helicopter

On the holy occasion of Basant Panchami, a sea of ​​faith thronged the Triveni Sangam on Mond

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

Parliament: Birla said - the MP should not make allegations against the speaker on Twitter, 239 crores were spent on PM's 31 foreign trips

Lok Sabha Speaker Om Birla while advising the MPs on Thursday said in the House not to make alleg

Controversial comment on Prophet: Jindal expelled from BJP said - Party took my sacrifice in the interest of the country, Nupur said this on the question

Whatever the party does, it will do right. The party has decided to expel me in the interest of t

Chief Minister Yogi Adityanath's OSD Motilal dies in a road accident, wife seriously injured

Motilal Singh, the camp office in charge of Chief Minister Yogi Adityanath's Gorakhnath temple, d

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