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February 27, 2024
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“February GST Collection Surpasses 1.49 Lakh Crore, Cess Collection Hits Record High”

NEW DELHI: The finance ministry announced on Wednesday that GST collections for February had surpassed 1.49 lakh crore, an increase of 12 percent. The month also saw the highest-ever collection of cess since the implementation of GST, at Rs 11,931 crore.

However, the collection is lower than January’s second-highest recorded GST mop-up of over Rs 1.57 lakh crore, and the all-time high of Rs 1.68 lakh crore in April 2022. Despite the lower numbers, the government stated that February usually sees lower tax collections due to its 28-day duration. In February 2022, the GST collection was Rs 1.33 lakh crore.

The gross GST revenue collected for February 2023 was Rs 1,49,577 crore, with CGST at Rs 27,662 crore, SGST at Rs 34,915 crore, IGST at Rs 75,069 crore (including Rs 35,689 crore collected on import of goods), and cess at Rs 11,931 crore (including Rs 792 crore collected on import of goods).

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