GST Collections Surpass Rs 1 Lakh Crore For Four Months In A Row; February Collections At Rs 1.05 Lakh Crore

In a major development, the Goods and Services Tax (GST) collections surpassed the Rs 1 lakh crore figure for four month in a row, reports Hindu Businessline.

The collections in the February month touched a total of Rs 1,05,366 crore with major States recording robust growth rates. Karnataka’s GST revenues grew by 15 per cent, Uttar Pradesh’s by 13 per cent, Maharashtra’s by 12 per cent and Gujarat’s by 11 per cent.

Meanwhile, other major States like Haryana and Tamil Nadu witnessed their GST revenues grow by 8 per cent year on year.

It should be noted that overall, the GST collections on an all-India basis grew by 12 per cent in February year on year. Also, adjusting for the GST collections from imports, the year on year collection stands eight per cent higher.

Central GST collections for the month stood at Rs 20,569 crore, State GST collections at Rs 27,348 crore, Integrated GST at Rs 48,503 crore and cess collections at Rs 8,947 crore.