GST collection rises 12% to Rs 1.49 lakh crore in Feb

New Delhi, Mar 2 (KNN) As domestic economic activities and consumer spending on high-end goods gained momentum, the Goods and Services Tax (GST) collections for the month of February rose 12 per cent to over Rs 1.49 lakh crore.

However, the collections are lower than January (Rs 1.58 lakh crore), which was also the second highest monthly revenue figure since the rollout of GST on July 1, 2017.

According to the ministry data, out of the gross GST revenue, Central GST was Rs 27,662 crore, State GST was Rs 34,915 crore, Integrated GST was Rs 75,069 crore (including Rs 35,689 crore collected on import of goods) and Cess was Rs 11,931 crore (including Rs 792 crore collected on import of goods).

The cess collection of Rs 11,931 crore was the highest since implementation of GST.

During the month, revenues from domestic transaction (including import of services) were 15 per cent higher while revenues from import of goods was 6 per cent higher compared to the same month last year, the Finance ministry said on Wednesday.

The monthly GST revenue has remained at more than Rs 1.4 lakh crore for 12 months in a row, including February.  (KNN Bureau)