Crossing Rs 1 lakh crore revenue collections mark for fourth consecutive month, the government has collected Rs 1.05 lakh crore as Goods and Services Tax (GST) revenue in February, up 8% over the same month last year. Though, it is short of the Rs 1.15 lakh crore target set by the government. It is also lower than the Rs 1.10 lakh crore collected in January 2020.
The gross GST revenue collected in the month of February, 2020 is Rs 1,05,366 crore of which CGST (Central GST) is Rs 20,569 crore, SGST (State GST) is Rs 27,348 crore, IGST (integrated GST) is Rs 48,503 crore and Cess is Rs 8,947 crore. The total number of GSTR 3B returns filed for the month of January up to February 29 stood at 83 lakh -- same as last month. The government has settled Rs 22,586 crore to CGST and Rs 16,553 crore to SGST from IGST as regular settlement.
The total revenue earned by Central and State Governments after regular settlement in the month of February is Rs 43,155 crore for CGST and Rs 43,901 crore for the SGST. The GST revenues during the month of February from domestic transactions have shown a growth of 12% over the same month last year. Taking into account the GST collected from import of goods, the total revenue during February 2020 has increased by 8% in comparison to the revenue during February 2019. During this month, the GST on import of goods has shown a negative growth of (-) 2% as compared to February 2019.
