GST collections grow 9.1% to about Rs 1.84 lakh crore in February

India’s gross Goods and Services Tax, GST, collections jumped 9.1 percent in February to Rs 1.84 lakh crore in comparison to same month last year. February marks the 12th consecutive month of over 1.7 lakh crore rupees of collections. As per the data, mop up from Central GST stood at 35,204 crore rupees, State GST at 43,704 crore rupees, Integrated GST at 90,870 crore rupees and compensation cess of 13,868 crore rupees. Total refunds issued during February were 20,889 crore rupees. Net GST collections, after discounting the refunds, for February rose 8.1 percent to about 1.63 lakh crore rupees.
Gross GST revenue includes a 10.2 percent jump in domestic revenues at 1.42 lakh crore rupees and 5.4 percemt rise in revenues from imports to 41,702 crore rupees during February. Gross GST revenues in February 2024 were 1.68 lakh crore.
Low collections have been reported from major states such as Telangana, Gujarat, Andhra Pradesh and Odisha. While Telangana reported a mere 1% y-o-y growth in February revenue at Rs 5,280 crore, Gujarat registered 3% growth in the same month at Rs 11,402 crore, Andhra Pradesh Rs3,817 crore (registering 4% growth) and Odisha Rs 5,344 crore (4% growth). GST collection in January this year were 1.96 lakh crore rupees with a yearly jump of 12.3 per cent.