New Delhi: Gross Items and Providers Tax (GST) income collections for February rose by a strong 12.5 per cent year-on-year in February to Rs 1,68,337 crore, in keeping with figures launched by the Finance Ministry on Friday.
The expansion was pushed by a 13.9 per cent rise in GST from home transactions and eight.5 per cent improve in GST from import of products. GST income web of refunds for February 2024 is Rs 1.51 lakh crore which is a progress of 13.6 per cent over that for a similar month final yr. (Additionally Learn: World Commerce Group Postpones Closing Session Of MC13 In Abu Dhabi)
As of February 2024, the entire gross GST assortment for the present fiscal yr stands at Rs 18.40 lakh crore, which is 11.7 per cent greater than the gathering for a similar interval in FY 2022-23. (Additionally Learn: 97.62% Of Rs 2,000 Forex Notes Returned, Says RBI)
The common month-to-month gross assortment for FY 2023-24 works out Rs 1.67 lakh crore, exceeding the corresponding determine of Rs 1.5 lakh crore for the earlier yr.
GST income web of refunds as of February 2024 for the present fiscal yr is Rs 16.36 lakh crore which is a progress of 13.0 per cent over that for a similar interval final yr.
Breakdown of February 2024 Collections:
*Central Items and Providers Tax (CGST): Rs 31,785 crore
*State Items and Providers Tax (SGST): Rs 39,615 crore
*Built-in Items and Providers Tax (IGST): Rs 84,098 crore, together with Rs 38,593 crore collected on imported items
*Cess: Rs 12,839 crore, together with Rs 984 crore collected on imported items.
