India’s February GST collection slips 5% to Rs.1.05 lakh crore

0 7,893

New Delhi: India’s gross GST collection has increased by 8.3% to Rs. 1,05,366 crore in February, as compared to 97,247 Crore in February 2019. However, on monthly basis, the February GST collection has declined by 4.9%, as compared to Rs. 110,828 Crore in January 2020.

Odisha’s monthly GST collection has increased by 18% to Rs.2790 crore in February 2020 from Rs.2374 Crore in February 2019.

 “The gross GST revenue collected in the month of February, 2020 is Rs. 1,05,366crore of which CGST is Rs.20,569crore, SGST is Rs. 27,348crore, IGST is Rs. 48,503crore (including Rs. 20,745crore collected on imports) and Cess is Rs. 8,947 crore (including Rs. 1,040crore collected on imports). The total number of GSTR 3B Returns filed for the month of January up to 29th February, 2020 is 83.53lakh” a Finance Ministry press release said.

“The government has 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 is Rs. 43,155 crore for CGST and ₹ 43,901 crore for the SGST” it added.

The GST revenues during the month of February, 2020 from domestic transactions has shown a growth of 12% over the revenue during the month of February, 2019. However, the GST on import of goods has dropped by 2% as compared to February, 2019.

Leave A Reply

Your email address will not be published.