GST Collection Crossed Rs 1.30 Lakh Crore Mark for the 5th Time

 

The Ministry of Finance has informed that the gross GST revenue collected in the month of February 2022 is Rs 1,33,026 crore.

Out of which CGST is Rs 24,435 crore, SGST is Rs 30,779 crore, IGST is Rs 67,471crore (including Rs 33,837 crore collected on import of goods) and cess is Rs 10,340 crore (including Rs 638 crore collected on import of goods).

Accordingly, the government has settled Rs 26,347 crore to CGST and Rs 21,909 crore to SGST from IGST. The total revenue of Centre and the States in the month of February 2022 after regular settlement is Rs 50,782 crore for CGST and Rs 52,688 crore for the SGST.

The revenues for the month of February 2022 are 18% higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 38% higher while, the revenues from domestic transaction (including import of services) are 12% higher than the revenues from these sources during the same month last year.

The chart below shows trends in monthly gross GST revenues during the current year.

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