GST collections crossed the ₹1 lakh crore-mark for the fifth month in a row in February, rising 7% to over ₹1.13 lakh crore, indicating economic recovery, the Finance Ministry said on Monday.
The collection is, however, lower than the record ₹1,19,875 crore collected in the previous month.
The gross GST revenue collected in February 2021 is ₹1,13,143 crore, of which CGST is ₹21,092 crore, SGST is Rs 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).
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"In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of February 2021 are 7% higher than the GST revenues in the same month last year.
"During the month, revenues from import of goods were 15% higher and the revenues from the domestic transaction (including import of services) are 5% higher than the revenues from these sources during the same month last year," the ministry said in a statement.