GST collections at ₹1.05 lakh cr in Feb, down from ₹1.10 lakh cr in Jan

The government has collected ₹1.05 lakh crore as GST revenue in February, up 8 per cent over the same month last year.

The collection from Goods and Services Tax (GST) in February was, however, lower than the ₹1.10 lakh crore collected in January 2020.

“The gross GST revenue collected in the month of February, 2020 is ₹1,05,366 crore of which CGST is ₹20,569 crore, SGST is ₹27,348 crore, IGST is ₹48,503 crore and Cess is ₹8,947 crore,” the finance ministry said in a statement.

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The total number of GSTR 3B returns filed for the month of January up to February 29 stood at 83 lakh — same as last month.

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,” the statement added.

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The GST revenues during the month of February from domestic transactions has shown a growth of 12 per cent over the same month last year.

“Taking into account the GST collected from import of goods, the total revenue during February, 2020 has increased by 8 per cent in comparison to the revenue during February, 2019,” the statement said.

During this month, the GST on import of goods has shown a negative growth of (-) 2 per cent as compared to February 2019, it added.