GST collection rises to 8.3 per cent in February

New Delhi, Mar 2 (KNN) Goods and Services Tax (GST) collections rose 8.3 percent in February to Rs 1.05 trillion lower than the Rs 1.1 trillion compared to previous month.

Collections in February represents an 8.3 per cent growth over receipts in the same time a year ago.

''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 Finance Ministry said in a statement on Sunday.

Punjab, Delhi and Maharashtra reported 12 per cent growth in revenue receipts in February from a year ago, while Gujarat reported an 11 per cent growth.

On the other hand, Karnataka reported a 15 per cent growth in collections in February from a year ago, while Tamil Nadu showed 8 per cent jump, said the Ministry.

Notably, this is the fourth consecutive month of GST receipts remaining above the Rs 1 trillion mark this financial year after collections had shown a contraction in October and November from the comparable period a year ago.

The Ministry also said that 8.3 million monthly summary GST returns have been filed for the month of January, up to 29 February. Tax collections in February refers to transactions in January.

---------------------

---------------------