GST collection up 18% at over Rs 1.33 lakh cr in Feb; Omicron impact dents MoM mop-up

This is for the fifth time in the current fiscal that the Goods and Services Tax (GST) collection has crossed Rs 1.30 lakh crore mark.

New Delhi: GST collections in February grew 18 per cent to over Rs 1.33 lakh crore in February even as the Omicron wave dented the month-on-month collection momentum.

This is for the fifth time in the current fiscal that the Goods and Services Tax (GST) collection has crossed Rs 1.30 lakh crore mark. Also, this is the first time, cess collection has crossed the Rs 10,000 crore mark, signifying recovery in certain key sectors, especially automobile sales, the Finance Ministry said on Tuesday.

The GST revenues had hit a record high of Rs 1,40,986 crore in January.

"The gross GST revenue collected in February 2022 is Rs 1,33,026 crore of which Central GST is Rs 24,435 crore, State GST is Rs 30,779 crore, Integrated GST is Rs 67,471 crore (including Rs 33,837 crore collected on import of goods) and cess is Rs 10,340 crore (including Rs 638 crore collected on import of goods)," the ministry said in a statement.

The revenues for February 2022 are 18 per cent higher than the GST revenues in the same month last year and 26 per cent higher than in February 2020.