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The monthly GST revenue has remained at more than Rs 1.4 lakh crore for 12 months in a row, including February

GST collection rises 12% in February

The monthly GST revenue has remained at more than Rs 1.4 lakh crore for 12 months in a row, including 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.

The second wave of Covid 19 took a toll on GST&nbsp;collection that stood&nbsp;Rs 92,849 crore&nbsp;for the month of June, the lowest in 8 months.&nbsp;But this is likely an isolated hit on the tax collection and not a reflection of the recovery as&nbsp;the collections are related to transactions pertaining to the month of May during which localised lockdowns had affected the business climate. The govt does not expect to see this downtrend continuing.
The Finance Ministry in it's official release said,&nbsp;"With reduction in caseload and easing of lockdowns, the e-way bills generated during June 2021 is 5.5 crore which indicates recovery of trade and business."

GST hit by second wave: Collection falls below Rs 1 lakh crore in June, an 8 month low

GST hit by second wave: Collection falls below Rs 1 lakh crore in June but e-bill generation indicates business recovery in process.&nbsp; Please tag finance ministry and fin min

GST hit by second wave: Collection falls below Rs 1 lakh crore in June 

<ul>
<li>GST collection for June fall to 8-month low</li>
<li>June GST&nbsp;collection below Rs 1 lakh crore&nbsp;mark&nbsp;</li>
<li>GST&nbsp;collections in June fall due to local lockdowns in May</li>
<li>Govt expecting to see recovery in July GST collection</li>
<li>Fin Min: e-way bill generation in June indicates recovery of trade.&nbsp;</li>
</ul>

June GST&nbsp;collections were above the Rs 1 lakh crore&nbsp;mark for 8 straight months.

The second wave of Covid 19 took a toll on GST&nbsp;collection that stood&nbsp;Rs 92,849 crore&nbsp;for the month of June, the lowest in 8 months.&nbsp; But this is likely an isolated hit on the tax collection and not a reflection of the recovery as&nbsp;the collections are related to transactions pertaining to the month of May during which localised lockdowns had affected the business climate. The govt does not expect to see this downtrend continuing.
The Finance Ministry in it's official release said,&nbsp;"With reduction in caseload and easing of lockdowns, the e-way bills generated during June 2021 is 5.5 crore which indicates recovery of trade and business."

gst collections

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