Gross GST revenue for February 2021 reached £1,13,143 crore, marking a 7% rise compared to the same month in the previous year. This is the fifth consecutive month where GST collections have surpassed £1 lakh crore and the third time exceeding £1.1 lakh crore post-pandemic. The increase indicates economic recovery, with revenues from imported goods up 15% and domestic transactions up 5% year-on-year.
Revenues for the month of February 2021, 7% higher than the GST revenues in the same month last year
The gross GST revenue collected in the month of February 2021 is₹ 1,13,143 croreof which CGST is₹ 21,092 crore, SGST is₹ 27,273 crore, IGST is₹ 55,253 crore(including ₹ 24,382 crore collected on import of goods) and Cess is₹ 9,525 crore(including ₹ 660 crore collected on import of goods).
The government has settled ₹ 22,398 crore to CGST and ₹ 17,534 crore to SGST from IGST as regular settl
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FAQ :
The gross GST revenue collected in February 2021 was £1,13,143 crore.
GST revenues in February 2021 were 7% higher than in February 2020.
CGST was £21,092 crore, SGST was £27,273 crore, IGST was £55,253 crore, and Cess was £9,525 crore.
Revenues from the import of goods were 15% higher, and revenues from domestic transactions were 5% higher compared to the same month last year.
The consistent rise in GST revenues suggests economic recovery and the effectiveness of measures taken to improve tax compliance.