GST collection in February was more than Rs 1.33 lakh crore in February, an increase of 18 per cent over the year-ago period, the finance ministry said on Tuesday.
The February mop-up was affected by the Omicron wave which spread across the country and hence, the total sales tax collection was less than the record Rs 1,40,986 crore in January.
The total GST revenue collected in February 2022 is Rs. 1,33,026 crore of which Central GST is Rs. 24,435 crore, State GST is Rs. 30,779 crore, Integrated GST is Rs. 67,471 crore (including Rs. Including Rs 638 crore collected on import of goods), ”the ministry said in a statement.
Revenue in February 2022 is 18 percent higher than GST revenue in the same month last year and 26 percent higher than GST revenue in February 2020.
The ministry said February, the 28-day month, usually had lower revenue than January.
The increase in February 2022 should also be seen in the context of various restrictions imposed by many states due to partial lockdowns, weekend and night curfews and omikron waves peaking around January 20, it added.
Read more: India’s GDP grows 5.4 percent in 3rd quarter; The world’s fastest-growing major economies remain
Latest business news