The gross GST revenue collection stands at Rs 1.13 lakh crore for the month of February
Bengaluru: As per reports, for the month of February, the gross GST revenue collection stands at Rs 1.13 lakh crore.
The segregation:
CGST stands at Rs 21,092 crore.
SGST stands at Rs 27,273 crore.
IGST stands at Rs 55,253 crore.
It is to be noted that additionally, a cess of Rs 9,525 crore has further been collected.
The centre has settled Rs 22,398 crore towards CGST and Rs 17,534 crore to SGST from IGST as regular settlement. In addition, Centre has also settled Rs 48,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States.
The total revenue of Centre and the States after regular settlement and ad-hoc settlement in the month of February 2021 is Rs 67,490 crore for CGST and Rs 68,807 crore for the SGST.
The GST revenues has crossed the Rs 1 lakh crore mark fifth time in a row and crossed Rs 1.1 lakh crore third time in a row post pandemic despite this being revenue collection of the month of February. This has been termed as a clear indication of the economic recovery and the impact of various measures taken by tax administration to improve compliance, Swarajya adds.
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