GST collection slips to Rs 1.05 lakh crore in February

Tribune News Service

New Delhi, March 1

The gross GST collection in February stayed above the Rs 1 lakh crore-mark for the fourth consecutive month but fell short by Rs 5,000 crore as compared to the previous month.

The GST collection for February at Rs 1.05 lakh crore was 8.35% higher than the Rs 97,247 crore collected in February last year. However, there was a slippage as compared to the gross GST collection of over Rs 1.10 lakh crore in January this year. The GST collection has crossed the Rs 1.10 lakh-crore mark only twice since the new indirect tax regime was rolled out in 2017.

Out of total collection of Rs 1.05 lakh crore, Central GST was Rs 20,569 crore and State GST was Rs 27,348 crore. Integrated GST was at Rs 48,503 crore, including Rs 20,745 crore from imports and cess of Rs 8,947 crore (including Rs 1,040 crore from imports). The total number of GSTR 3B Returns filed for the month of January up to February 29 was 83 lakh.

Last month, of the total collection of Rs 1.10 lakh crore, Central GST was Rs 20,944 crore, state GST Rs 28,224 crore, Integrated GST Rs 53,013 crore and cess Rs 8,637 crore. This means that IGST for the month of February fell by around Rs 4,500 crore, state GST by about Rs 1,000 crore while collection by cess rose by about Rs 300 crore.

“The GST revenue during the month of February 2020 from domestic transactions has shown a growth of 12% over the revenue during the month of February 2019,” said a Finance Ministry statement. February 2019 was a bad month for GST collection. Of the total gross GST revenue of Rs 97,247 crore, CGST was Rs 17,626 crore, SGST Rs 24,192 crore, IGST Rs 46,953 crore and cess Rs 8,476 crore.

During the month, the GST on import of goods has shown a negative growth of (-) 2 per cent as compared to February 2019, it added.