New Delhi:Gross goods and services tax (GST) collection rose 18 per cent year-on-year to Rs 1.33 lakh crore in February, 2022 reflecting strong recovery in economic activities. The February number is, however, lower than January when collection had climbed to Rs 1.40 lakh crore. “February, being a 28-day month, normally witnesses revenues lower than that in January. This high growth during February 2022 should also be seen in the context of partial lockdowns, weekend and night curfews and various restrictions that were put in place by various States due to the omicron wave, which peaked around 20th January,” Finance Ministry said. As per official data, out of the total GST collection in February for the month of January, CGST stood at Rs 24,435 crore, SGST at Rs 30,779 crore, IGST at Rs 67,471 crore (including Rs 33,837 crore collected on import of goods) and cess was Rs 10,340 crore (including Rs 638 crore collected on import of goods). “The government has settled Rs 26,347 crore to CGST and Rs 21,909 crore to SGST from IGST. The total revenue of Centre and the States in the month of February 2022 after regular settlement is Rs 50,782 crore for CGST and Rs 52,688 crore for the SGST,” Finance Ministry said. During the month of February, revenues from import of goods was 38 per cent higher and the revenues from domestic transaction (including import of services) are 12 per cent higher than the revenues from these sources during the same month last year. This is for the fifth time GST collection has crossed Rs 1.30 lakh crore mark. Since implementation of GST, for the first time, GST cess collection crossed Rs 10,000 crore mark, which signifies recovery of certain key sectors, especially, automobile sales. UNI NK
