GST Revenue Collection In February crosses Rs 1.05 Lakh Crore (Representative Image) (Photo Credit: File Photo)
Goods and Services Tax (GST) collections have crossed the Rs 1 lakh crore mark for the fourth month in a row in February with improved compliance and plugging of evasion, the PM Modi-led central government said on Sunday. According to data provided by the government, the total GST revenue was Rs 1.05 lakh crore in February, up 8 per cent over the same month last year. It is to be noted that the collection from GST February was, however, lower than the Rs 1.10 lakh crore collected in January 2020.
In a statement, the finance ministry said, "The gross GST revenue collected in the month of February, 2020 is Rs 1,05,366 crore of which CGST is Rs 20,569 crore, SGST is Rs 27,348 crore, IGST is Rs 48,503 crore and Cess is Rs 8,947 crore."
The statement further said, “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. 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 Rs 43,901 crore for the SGST. The GST revenues during the month of February from domestic transactions has shown a growth of 12 per cent over the same month last year," the statement added.
"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. 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.
(With Inputs From Press Information Bureau)