February GST collection pegged at Rs1,05,366 crore
02 March 2020
The gross GST revenue collected from the Goods and Services Tax (GST) in February 2020 stood at Rs1,05,366 crore, which included CGST of Rs20,569 crore, ruling above the Rs1 lakh crore mark for the fourth month in a row.
However, the February 2020 collection of Rs1,05,366 crore was lower compared with the January 2020 figure of Rs1,10,828 crore, but higher than the December 2019 collection of Rs1,03,184 crore.
The February 2020 GST collection included SGST of Rs27,348 crore, IGST of Rs48,503 crore ( which included Rs20,745 crore collected on imports) and Cess of Rs8,947 crore (including Rs1,040 crore collected on imports).
The total number of GSTR 3B returns filed for the month of January up to 29 February 2020 stood at 8.35 million.
The government has settled Rs22,586 crore to CGST and Rs16,553 crore to SGST from IGST as regular settlement. The total revenue earned by the central and state governments after regular settlement in February 2020 stood at Rs43,155 crore for CGST and Rs43,901 crore for the SGST.
The GST revenues during the month of February 2020 from domestic transactions has shown a growth of 12 per cent over the revenue during the month of February 2019. Taking into account 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, GST on import of goods has shown a negative growth of (-) 2 per cent as compared to February 2019.
The GST revenues during February from domestic transactions grew 12 per cent year-on-year.
Taking into account the GST collected from import of goods, the total revenue was up 8 per cent year-on-year in February. During the month, the GST on import of goods contracted by 2 per cent as compared to February 2019.
The major States of Maharashtra, Gujarat, Karnataka, Tamil Nadu, Uttar Pradesh and Haryana recorded robust growth in GST revenues in February.
Maharashtra’s GST revenues in February grew 12 per cent to Rs15,735 crore (Rs14,092 crore) and Gujarat's GST revenue grew 11 per cent to Rs7,216 crore (Rs6,507 crore).
Karnataka’s GST revenues grew 15 per cent to Rs7,414 crore (Rs6,453 crore) and Tamil Nadu’s by 8 per cent to Rs6,427 crore (Rs5,974 crore).
Uttar Pradesh posted 13 per cent growth in GST revenues in February Rs5,776 crore (Rs5,112 crore) and Haryana’s revenues grew by 8 per cent to Rs5,266 crore (Rs4,873 crore) in February 2020.