GST collection grows 12.5% year-on-year to over Rs 1.68 lakh crore

[ad_1] NEW DELHI: Goods and Services Tax (GST) collection increased by 12.5% year-on-year to ₹1,68,337 crore in February, as per data released by finance ministry on Friday. This growth is primarily driven by a 13.9% increase in GST from domestic transactions and an 8.5% rise in GST from import of goods.Central Goods and Services Tax collections stands at ₹31,785 crore whereas ₹39,615 crore came from State Goods and Services Tax (SGST). Integrated Goods and Services Tax (IGST) contributed ₹84,098 crore, including ₹38,593 crore collected on imported goods. The rest came from Cess which stands at ₹12,839 crore, including ₹984 crore collected on imported goodsThe total gross GST collection for the current fiscal (April 2023-February 2024) is Rs 18.40 lakh crore, which is 11.7% higher than the collection for the same period last fiscal. The average monthly collection for this fiscal is Rs 1.67 lakh crore, surpassing the Rs 1.5 lakh crore collected in the previous fiscal.!(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if (!isFBCampaignActive) { return; } (function(f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function() { n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments); }; if (!f._fbq) f._fbq = n; n.push = n; n.loaded = !0; n.version = '2.0'; n.queue = []; t = b.createElement(e); t.async = !0; t.defer = !0; t.src = v; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); })(f, b, e, 'https://connect.facebook.net/en_US/fbevents.js', n, t, s); fbq('init', '593671331875494'); fbq('track', 'PageView'); }; function loadGtagEvents(isGoogleCampaignActive) { if (!isGoogleCampaignActive) { return; } var id = document.getElementById('toi-plus-google-campaign'); if (id) { return; } (function(f, b, e, v, n, t, s) { t = b.createElement(e); t.async = !0; t.defer = !0; t.src = v; t.id = 'toi-plus-google-campaign'; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); })(f, b, e, 'https://www.googletagmanager.com/gtag/js?id=AW-877820074', n, t, s); }; function loadSurvicateJs(allowedSurvicateSections = []){ const section = window.location.pathname.split('/')[1] const isHomePageAllowed = window.location.pathname === '/' && allowedSurvicateSections.includes('homepage') if(allowedSurvicateSections.includes(section) || isHomePageAllowed){ (function(w) { var s = document.createElement('script'); s.src="https://survey.survicate.com/workspaces/0be6ae9845d14a7c8ff08a7a00bd9b21/web_surveys.js"; s.async = true; var e = document.getElementsByTagName('script')[0]; e.parentNode.insertBefore(s, e); })(window); } } window.TimesApps = window.TimesApps || {}; var TimesApps = window.TimesApps; TimesApps.toiPlusEvents = function(config) { var isConfigAvailable = "toiplus_site_settings" in f && "isFBCampaignActive" in f.toiplus_site_settings && "isGoogleCampaignActive" in f.toiplus_site_settings; var isPrimeUser = window.isPrime; if (isConfigAvailable && !isPrimeUser) { loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive); loadFBEvents(f.toiplus_site_settings.isFBCampaignActive); loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections); } else { var JarvisUrl="https://jarvis.indiatimes.com/v1/feeds/toi_plus/site_settings/643526e21443833f0c454615?db_env=published"; window.getFromClient(JarvisUrl, function(config){ if (config) { loadGtagEvents(config?.isGoogleCampaignActive); loadFBEvents(config?.isFBCampaignActive); loadSurvicateJs(config?.allowedSurvicateSections); } }) } }; })( window, document, 'script', ); #GST #collection #grows #yearonyear #lakh #crore