GST collection rises 18% to Rs 1.33 lakh crore in February
The Finance Ministry on Tuesday said that the GST collection in February stood at over Rs 1.33 lakh crore in February, which is 18 per cent higher than the year-ago period.
February’s mop-up was impacted by the Omicron wave that had spread through the country and hence, the gross sales tax collection was lower than the net January record of Rs 1,40,986 crore.
“Gross GST revenue collected in February 2022 is Rs 1,33,026 crore, which includes Central GST Rs 24,435 crore, State GST Rs 30,779 crore, Integrated GST Rs 67,471 crore (including Rs 33,837 crore collected on import of goods) and cess. 10,340 crore (including Rs 638 crore collected on import of goods),” the ministry said in a statement.
The revenue for February 2022 is 18 per cent higher than the GST revenue in the corresponding month last year and 26 per cent higher than the GST revenue in February 2020.
The ministry said that since February is a 28-day month, it generally receives less revenue than January.
This increase in February 2022 should also be seen in the context of partial lockdowns, weekend and night curfews and various restrictions imposed by several states due to the omicron wave, which peaked around January 20.
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