India's GST collection increases 12.5 percent to 1.68 lakh crore rupees in February

A total of one lakh 68 thousand 337 crore rupees gross GST revenue has been collected during February. This marks a robust 12.5 percent increase compared to that in the same month last year. This growth was driven by a 13.9 percent rise in GST from domestic transactions and an 8.5 percent increase in GST from import of goods. GST revenue net of refunds for February this year is 1.51 lakh crore rupees which is a growth of 13.6 percent over that for the same period



last year.

As of February this year, the total gross GST collection for the current fiscal year stands at 18.40 lakh crore rupees, which is 11.7 percent higher than the collection for the same period in 2022-23. The average monthly gross collection for 2023-24 is 1.67 lakh crore rupees, exceeding the 1.5 lakh crore rupees collected in the previous year's corresponding period.