1.13 lakh crore GST collection in February, crosses 1 lakh crore for the 5th consecutive month

Categories: GST Recent News, News
No Comments

The Goods and Services Tax i.e. (GST) in the previous February The collection was 1.13 lakh crore rupees. this 7 percent compared to the same month last year is more. Not only this, this is the fifth consecutive month When GST collection is one lakh crore rupees Has gone beyond While GST since last three months The collection is getting more than 1.10 lakh crores.

According to the Ministry of Finance, collected in February 21,092 crores in GST of 1.13 lakh crores. CGST, 27,273 crore SGST and 55,253 crore is IGST. 9,525 from Cess Crores have been received. Finance Ministry said that continuously One lakh crore of GST collection in the fifth month Above is a clear sign of economic recovery.

Also, this tax was adopted by the administration Efforts also have an impact. Government Regular Settlement From IGST to CGST 22,398 crores and 17,534 crores SGST Settled. Apart from this, the central government 50:50 ratio between the center and the states 48,000 crores as IGST ad-hoc Rupees have also been set.

Government will get the target

Government has GST collection of 1.20 lakh crore rupees every month Has targeted So far it has not been achieved, but Jis In the next few months, seeing that the collection is growing at a rapid pace This goal should be achieved.Bimal Jain, GST Expert.

GST Collection Three reasons for the growth

  1. Economy fast track Is returning Its On the go tax collection It is natural to grow.
  2. System Flaws Are constantly being taken away. Due to tax evasion Is decreasing
  3. Tax evaders To be raided on bases Have been. From such people Recovery is underway.

Source: Dainik Bhaskar