GST collections up 7% in February, more than Rs 1.1 lakh crore received for third consecutive month

There has been good news for the government on the revenue front. GST collections in the month of February have increased by seven per cent to Rs 1.13 lakh crore. This is the third consecutive month that the government has received a GST of over 1.1 lakh crore rupees. Recovery in GST revenue for the last five months. The trend of GST has remained. GST revenue in February, 2021 has received 7% more than the same month of the previous year. While giving this information on Monday, the Finance Ministry said that the Goods and service tax collections in February increased by seven percent to Rs 1.13 lakh crore, which is a sign of improvement in the economy. However, the GST collection data for February has been lower than January. GST collection stood at Rs 1,19,875 crore in January. The gross GST collection stood at Rs 1,13,143 crore in February. Of this, the share of Central GST (CGST) was Rs 21,092 crore, State GST (SGST) share was Rs 27,273 crore and Integrated GST was Rs 55,253 crore. 24,382 crore was raised in IGST on import of goods. The cess amounted to Rs 9,525 crore. Out of this, 660 crores was raised on import of goods.The Finance Ministry said that for the last five months, GST revenue collection is showing an improvement trend. The GST collection in February 2021 was seven per cent higher than the same month in the previous year. The statement said that revenue from import of goods was up by 15 percent during the month. Revenue from domestic transactions (including import of services) was five percent higher than the same month last year.