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    GST collections up by 7 % to Rs 1.13 lakh cr in February

    Published on March 3, 2021

    The gross GST revenue collected in the month of February is one lakh 13 thousand 143 crore rupees. Finance Ministry said, out of this amount, CGST is 21 thousand 92 crore rupees, SGST is 27 thousand 273 crore, IGST is 55 thousand 253 crore and Cess is 9,525 crore rupees.

    The government has settled 22 thousand 398 crore rupees to CGST and 17 thousand 534 crore to SGST from IGST as regular settlement. In addition, the Centre has also settled 48 thousand crore rupees as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States and UTs. The total revenue of Centre and the States after regular settlement and ad-hoc settlement in February was 67 thousand 490 crore rupees for CGST and 68 thousand 807 crore for the SGST.

    In line with the trend of recovery in the GST revenues over past five months, the revenues for February are seven per cent higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 15 per cent higher and the revenues from domestic transactions are five per cent higher than the revenues from these sources during the same month last year.