Comments
Goods and Services Tax (GST) collections crossed the ₹1-lakh crore mark for the fourth month in a row in February.
However, the February 2020 collection of ₹1,05,366 crore were lower than the January 2020 figure of ₹1,10,828 crore.
It was higher than December 2019’s ₹1,03,184 crore mop-up.
For February 2020, CGST stood at ₹20,569 crore, SGST at ₹27,348 crore, IGST at ₹48,503 crore (including ₹20,745 crore collected on imports) and cess at ₹8,947 crore (including ₹1,040 crore collected on imports).
The total number of GSTR 3B Returns filed for January up to February 29, 2020 is 83 lakh, an official release said.
The government has settled ₹22,586 crore to CGST and ₹16,553 crore to SGST from IGST as regular settlement.
The total revenue earned by the Centre and the State governments after regular settlement in February is ₹43,155 crore for CGST and ₹43,901 crore for SGST.
Domestic transactions
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.
States’ profile
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 ₹15,735 crore (₹14,092 crore) and Gujarat's GST revenue grew 11 per cent to ₹7,216 crore (₹6,507 crore).
Karnataka’s GST revenues grew 15 per cent to ₹7,414 crore (₹6,453 crore) and Tamil Nadu’s by 8 per cent to ₹6,427 crore (₹5,974 crore).
Uttar Pradesh posted 13 per cent growth in GST revenues in February ₹5,776 crore (₹5,112 crore) and Haryana’s revenues grew by 8 per cent at ₹5,266 crore (₹4,873 crore) in the same period.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.