GST collections up by 8 percent in February
New Delhi/IBNS: The Indian government on Sunday said it collected Rs. 1.05 lakh crore as GST revenue in February this year, official data released showed.
The figure remained 8 percent up in comparison to January.
"The gross GST revenue collected in the month of February, 2020is ₹ 1,05,366crore of which CGST is ₹ 20,569crore, SGST is ₹ 27,348crore, IGST is ₹ 48,503crore (including ₹ 20,745crore collected on imports) and Cess is ₹ 8,947 crore (including ₹ 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," read the government statement.
"The government has settled ₹ 22,586 crore to CGST and ₹ 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 ₹ 43,155 crore for CGST and ₹ 43,901 crore for the SGST," it said.
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.
Taking into account the GST collected from import of goods, the total revenue during February, 2020has increased by 8% in comparison to the revenue during February, 2019. During this month, the GST on import of goods has shown a negative growth of (-) 2% as compared to February, 2019.
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