India’s GST collection rises 18% in Feb, tops Rs 1.30 lakh Cr. mark for 5th time

India’s GST collection rose 18% in February 2022 on a year-on-year basis to Rs 133,026 crore, official data showed on Tuesday.

However, on sequential basis, last month’s collections were slightly lower than those of January 2022. In January 2022, the collection had stood at Rs 138, 394 crore.

Notably, this is the fifth time that the GST collection has crossed the Rs 1.30 lakh crore mark.

“The revenues for the month of February 2022 are 18 per cent higher than the GST revenues in the same month last year and 26 per cent higher than the GST revenues in February 2020, ” the Ministry of Finance said in a statement.

“During the month, 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.”