GST collection in February increased by 12.5 percent to Rs. 1.68 lakh crore

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- Fourth largest GST collection ever

- The average monthly collection of GST in the current financial year is Rs. 1.67 lakh crore which was Rs.1.50 lakh crore last year

- The total GST collection so far in 2023-24 is Rs. 18.40 lakh crore

New Delhi: GST collection increased by 12.5 percent year-on-year to Rs 1.68 lakh crore in February 2024 due to increase in domestic sales and imports. Which is the fourth highest collection till date.

It is worth mentioning that in April, 2023, GST collection was recorded at Rs 1.87 lakh crore which is the highest till date. After that, the GAT collection was Rs 1.73 lakh crore in January 2024 and Rs 1.72 lakh crore in October 2023. Along with this, the total GST collection in the current financial year so far i.e. from April 2023 to February 2024 is Rs 18.40 crore. It has been lakhs of crores of rupees. Which is 11.7 percent higher than the same period last year. The Finance Ministry has said in a statement that the total revenue from Goods and Services Tax (GST) in February 2024 was Rs 1,68,337 crore. Which is 12.5 percent more than February, 2023. GST revenue from domestic transactions has grown by 13.9 percent and GST revenue from import of goods by 8.5 percent. The average monthly collection of GST in the current financial year has been Rs 1.67 lakh crore. The average monthly collection of GST in the last financial year was Rs 1.50 lakh crore.

The GST collection of Rs 1,68,337 crore for February, 2024 includes Central GST of Rs 31785 crore, State GST of Rs 39615 crore, Integrated GST of Rs 84098 crore and Cess of Rs 12839 crore.

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