At Rs 1.13 lakh crore, GST collections cross Rs 1 lakh crore mark for 5th month in a row in February

GST collection in the month of February stood at Rs 1.13 lakh crore, 7 percent higher year-on-year, but lower than an all-time high of nearly Rs 1.20 lakh crore in January, official data showed on March 1.


"In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of February 2021 are 7 percent higher than the GST revenues in the same month last year," the Finance Ministry said in a statement.


Out of the total for February, Central GST was Rs 21,092 crore, State GST was Rs 27,273 crore, Integrated GST was Rs 55,253 crore (including Rs 24,382 crore collected on import of goods) and compensation cess was Rs 9,525 crore (including Rs 660 crore collected on import of goods).


"While the growth of GST collections eased mildly in February 2021, it remained healthy, in line with the consolidation in the momentum of economic activity observed across a variety of lead indicators," said Aditi Nayar, Principal Economist with ICRA Ltd.


Source: https://www.moneycontrol.com/news/business/economy/at-rs-1-13-lakh-crore-gst-collections-cross-rs-1-lakh-crore-mark-for-5th-month-in-a-row-in-february-6589701.html



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