GST collections in February rise 12% to over Rs 1.49 lakh crore YoY

GST Collections Data February 2023: The Goods and Service Tax (GST) revenue collection in February 2023 stood at Rs 1,49,577 crore, up 12 per cent on an annual basis.  

Goods and Services Tax (GST) collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry said on Wednesday.

February 2023 witnessed the highest cess collection of Rs 11,931 crore since implementation of GST. However, the collections are lower than the second highest GST mop-up recorded in January at over Rs 1.57 lakh crore. The collection reached an all-time high of Rs 1.68 lakh crore in April 2022.

GST Collections Data February 2023

The ministry in a statement said,"The gross GST revenue collected in the month of February 2023 is Rs 1,49,577 crore of which CGST is Rs 27,662 crore, SGST is Rs 34,915 crore, IGST is Rs 75,069 crore (including Rs 35,689 crore collected on import of goods) and cess is Rs 11,931 crore (including Rs 792 crore collected on import of goods)." 

The revenues for the month of February 2023 are 12 per cent higher than the GST revenues in February 2022GST revenue in February 2022 was Rs 1,33,026 crore.

Normally February, being a 28-day month, witnesses a relatively lower collection of revenue, the ministry added in the official release.

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