GST collection rises 12% in February

Goods and Services Tax (GST) collections rose 12 per cent to more than Rs 1.49 lakh crore in February as domestic economic activities and consumer spending on high-end goods gained momentum.

However, the collections are lower than January mop up of Rs 1.58 lakh crore, which was also the second highest monthly revenue figure since the rollout of GST on July 1, 2017.

"Rs 1,49,577 crore gross GST revenue collected in February 2023; 12 per cent higher than GST revenue in same month last year," the finance ministry said in a statement on Wednesday.

Generally, February being a 28-day month, witnesses a relatively lower collection of GST revenue, the ministry said.

During the month, revenues from domestic transaction (including import of services) were 15 per cent higher while revenues from import of goods was 6 per cent higher compared to the same month last year.