₹ 1,05,366 Crore Gross GST Revenue Collected in February

The gross GST revenue collected in the month of February, 2020 is Rs 1,05,366 crore (US$ 15.08 billion) of which CGST is Rs 20,569 crore (US$ 2.94 billion), SGST is Rs 27,348 crore (US$ 3.91 billion), IGST is Rs 48,503 crore (US$ 6.94 billion) (including Rs 20,745 crore [US$ 2.97 billion] collected on imports) and Cess is Rs 8,947 crore (US$ 1.28 billion) (including Rs 1,040 crore [US$ 148.81 billion] 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 (US$ 3.23 billion) to CGST and Rs 16,553 crore (US$ 2.37 billion) 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 (US$ 6.17 billion) for CGST and Rs 43,901 crore (US$ 6.28 billion) for the SGST.

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

The chart shows trends in revenue during the current year. The table shows the state-wise figures of GST collected in each State during the month of February 2020 as compared to Feb 2019.

Source: IBEF

Image Courtesy: BW