GST collection crosses ₹1 lakh cr mark for fourth consecutive month in Feb

Ghughuti Bulletin

The government has collected 1.05 lakh crore as GST revenue in February, up 8% over the same month last year. This is the fourth consecutive month when the government mopped up GST collection above 1 lakh crore mark.

The collection from Goods and Services Tax (GST) in February was, however, lower than the 1.10 lakh crore collected in January 2020.

“The gross GST revenue collected in the month of February, 2020 is 1,05,366 crore of which CGST is 20,569 crore, SGST is 27,348 crore, IGST is 48,503 crore and Cess is 8,947 crore,” the finance ministry said in a statement.

The total number of GSTR 3B returns filed for the month of January up to February 29 stood at 83 lakh — same as last month.

(Source: PIB)
(Source: PIB)

The government has settled 22,586 crore to CGST and 16,553 crore to SGST from IGST as regular settlement.

“The total revenue earned by Central Government and the State Governments after regular settlement in the month of February, 2020 is 43,155 crore for CGST and 43,901 crore for the SGST,” the statement added.

The GST revenues during the month of February from domestic transactions has shown a growth of 12% over the same month last year.

“Taking into account the GST collected from import of goods, the total revenue during February, 2020 has increased by 8 per cent in comparison to the revenue during February, 2019,” the statement said.

During this month, the GST on import of goods has shown a negative growth of (-) 2 per cent as compared to February 2019, it added.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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