GST collection drops down to Rs 97,247 crore in February 2019

New Delhi, Mar 2 (KNN) Owing to reduction in tax rates on 23 goods and services, the Goods and Services Tax (GST) collection dropped down from Rs 1.02 lakh crore in January to Rs 97,247 crore in February.

The Ministry of Finance in a statement said “The total gross Goods and Service Tax (GST) revenue collected in the month of February 2019 is Rs 97,247 crore of which CGST is Rs 17,626 crore, SGST is Rs 24,192 crore, IGST is Rs 46,953crore (including Rs 21,384 crore collected on imports) and Cess is Rs 8,476 crore (including Rs 910crore collected on imports).”

The GST collection for February 2019, is 13.12 per cent higher than Rs 85,962 crore collected in February 2018. The GST collections in the current fiscal till February have totaled Rs 10.70 lakh crore.

The total number of GSTR 3B returns filed for the month of January up to February 28, 2019 is 73.48 lakh, it added.

The Government has settled Rs 19,470 crore to CGST and ₹ 15,747 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, 2019 is Rs 37,095 crore for CGST and Rs 39,939 crore for the SGST.

(KNN/YV)