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GST collections for February slip below Rs 1 lakh crore mark to Rs 97,247 crore

"The IGST grew to Rs 47,000 crore while the CGST and SGST stood at Rs 17,600 crore and Rs 24,200 crore, respectively," according to government data.

twitter-logoBusinessToday.In | March 1, 2019 | Updated 17:25 IST
GST collections for February slip below Rs 1 lakh crore mark to Rs 97,247 crore
The Goods and Services Tax (GST) collections in the month of February 2019 stood at Rs 97,247 crores, marginally lower than Rs 1 lakh crore reported in the month of January.

The Goods and Services Tax (GST) collections in the month of February 2019 stood at Rs 97,200 crores, marginally lower than Rs 1 lakh crore reported in the month of January.

"The Integrated GST (IGST) grew to Rs 47,000 crore while the Central GST (CGST) and State GST (SGST) stood at Rs 17,600 crore and Rs 24,200 crore, respectively," according to government data.

The gross GST revenue collected in the month of January 2019 crossed Rs 1 lakh crore. GST collection stood at Rs 94,725 crore in December and Rs 89,825 crore during January 2018. The GST collection crossed Rs 1 lakh crore-mark three times during the current fiscal. Previously in April and October, the collections had surpassed this milestone.

Also Read: Retail inflation for industrial workers spikes to 6.6% in January on higher food prices

The total GST collections in the current fiscal till February touched Rs 10.70 lakh crore.

For the current financial year, the Centre has lowered the GST collection target to Rs 11.47 lakh crore in the revised estimates, from Rs 13.71 lakh crore budgeted previously. For the next fiscal 2019-20, the government has pegged GST collection target at Rs 13.71 lakh crore.

Conventionally, GST collection data for a month is released on the first day of the subsequent month.

Edited by Chitranjan Kumar

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