GST revenue collection rises 7% yoy to over Rs1.13 lakh cr in Feb 2021

CGST collection was at Rs21,092cr, SGST at Rs27,273cr, IGST at Rs55,253cr and Cess at Rs9,525cr.

Mar 02, 2021 01:03 IST India Infoline News Service

Goods and Services Tax, GST
The Finance Ministry has announced that the gross GST revenue collected stood at Rs1,13,143cr in February 2021. Notably, GST revenue in the latest month is higher by 7% than the GST revenues in the same month last year.

Among the total, CGST collection was at Rs21,092cr, SGST at Rs27,273cr, IGST at Rs55,253cr (including Rs24,382cr collected on import of goods) and Cess at Rs9,525cr (including Rs660cr collected on import of goods).

As per the ministry data, the Centre settled Rs22,398cr to CGST and Rs17,534cr to SGST from IGST as regular settlement. Also, the Centre has settled Rs48,000cr as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs.

Total revenue of Centre and the States after regular settlement and ad-hoc settlement in February 2021 is Rs67,490cr for CGST and Rs68,807cr for the SGST.

Related Story

Explore Important Blogs