New Delhi: The GST collection crossed Rs 1 lakh crore in the month of February as well. The government recovered Rs 1.05 lakh crore under GST in February, an increase of eight per cent over the same month last year. However, the Goods and Services Tax (GST) collection for February this year is lower than the Rs 1.10 lakh crore in January 2020 the previous month.
The Finance Ministry said in a statement on Sunday, ‘The gross GST collection in February 2020 is Rs 1,05,366 crore, including CGST (Central GST) Rs 20,569 crore, SGST (State GST) Rs 27,348 crore, IGST (Integrated GST) 48,503 crore.
The statement said that a total of 83 lakh GSTR 3B returns were filed till February 29 in connection with the deals for the month of January. This figure is equal to the previous month. The ministry said that out of the aggregated amount of IGST, the government paid Rs 22,586 crore for CGST and Rs 16,553 crore for SGST as per rules.
“The total GST receipts earned by the Central Government and the State Governments after settlement as per rules in February 2020 were Rs 43,155 crore and Rs 43,901 crore, respectively,” the statement said. GST revenue grew 12 percent in February from domestic transactions over the same month last year. The statement said that GST collections on imported goods declined by two per cent in this month compared to February 2019.
