GST collection up 8.3% in February at Rs 1.05 lakh cr

New Delhi, March 1 (SocialNews.XYZ) The gross Goods and Services Tax (GST) revenue collection in the month of February stayed above the Rs 1 lakh crore mark for the fourth consecutive month, at Rs 1.05 lakh crore.

GST collection last month was 8.35 per cent higher than Rs 97,247 crore reported during the same period last year.

Out of the total collection of Rs 1.05 lakh crore, CGST was Rs 20,569 crore and SGST was Rs 27,348 crore, an official statement said.

IGST collection stood at Rs 48,503 crore, including Rs 20,745 crore collected on imports and cess collected was Rs 8,947 crore, including Rs 1,040 crore collected on imports. The total number of GSTR 3B Returns filed for the month of January up to February 29 is 83 lakh.

"The GST revenues during the month of February, 2020 from domestic transactions has shown a growth of 12 per cent over the revenue during the month of February, 2019," said a Finance Ministry statement.

Taking into account the GST collected from import of goods, the total revenue during this February has increased by 8 per cent in comparison to the revenue during February last year

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

The government settled Rs 22,586 crore to CGST and Rs 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 was Rs 43,155 crore for CGST and Rs 43,901 crore for the SGST.

Source: IANS