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February GST collection : Fall by Rs. 5K crore

Goods and Services Tax (GST) collections crossed the 1-lakh crore mark for the fourth month in a row in February.

However, the February 2020 collection of 1,05,366 crore were lower than the January 2020 figure of 1,10,828 crore.

It was higher than December 2019’s Rs1,03,184 crore mop-up.

Out of the gross GST revenue collected in the month Rs 1,05,366 crore of which CGST is Rs 20,569 crore, SGST is Rs 27,348crore, IGST is Rs 48,503 crore (including Rs 20,745 crore collected on imports) and Cess is Rs 8,947 crore (including Rs 1,040 crore collected on imports). The total number of GSTR 3B Returns filed for the month of January up to 29th February, 2020 is 83.53 lakh.

The government has settled Rs 22,586 crore to CGST and Rs 16,553 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of February,2020 is Rs 43,155 crore for CGST and Rs 43,901 crore for the SGST.

The GST revenues during the month of February, 2020 from domestic transactions has shown a growth of 12% over the revenue during the month of February, 2019. Taking into account the GST collected from import of goods, the total revenue during February, 2020has increased by 8% in comparison to the revenue during February, 2019. During this month, the GST on import of goods has shown a negative growth of (-) 2% as compared to February, 2019.

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