Collection of ₹ 1.68 lakh crore from GST in February: This is 12.5% more than last year
The government has collected Rs 1.68 lakh crore from Goods and Services Tax i.e. GST in February-2024. This is 12.5% more than a year ago i.e. February 2023. Then Rs 1.49 lakh crore was collected from GST. However, it is Rs 4 thousand crore less than a month ago in January. In January, the government had collected Rs 1.72 lakh crore from GST.
This is the 12th consecutive time that the revenue collection has been above Rs 1.5 lakh crore. Till now, the highest GST collection was in April 2023, when this figure had crossed Rs 1.87 lakh crore. Apart from this, the country’s GST collection has remained above Rs 1.4 lakh crore for 23 consecutive months.
CGST was Rs 31,785 crore, SGST was Rs 39,615 crore
According to the Finance Ministry, GST collection in February 2024 has been ₹1,68,337 crore. Of this, CGST was Rs 31,785 crore, SGST was Rs 39,615 crore, IGST was Rs 84,098 crore (including Rs 38,593 crore collected on import of goods) and cess was Rs 12,839 crore. Cess includes Rs 984 crore received from import of goods.
GST collection of Rs 18.40 lakh crore so far in FY24
In the financial year 2023-24 i.e. in the last 11 months (April 2023-February 2024), a total GST collection of Rs 18.40 lakh crore has been done so far. Whereas in the last financial year 2022-23, the total GST collection was Rs 18.10 lakh crore.
