GST collections slide month-on-month to ₹1.49 lakh crore in February

Goods and Services Tax (GST) collections in February, 2023 stood at Rs 1,49,577 crore, lower than Rs 1,55,922 crore collected in January.

Out of the Rs 1,49,577 crore collected through GST revenue in February, CGST was Rs 27,662 crore, SGST was Rs 34,915 crore and IGST was Rs 75,069 crore (including Rs 35,689 crore collected on import of goods) while cess was Rs 11,931 crore (including Rs 792 crore collected on import of goods).

February's GST collections were marginally higher than December 2022 collections, which were Rs 1,49,507 crore.

Monthly GST revenues have been more than Rs 1.4 lakh crore for 12 straight months in a row.

The government has settled Rs 34,770 crore to CGST and Rs 29,054 crore to SGST from IGST as regular settlement.

The total revenue of the Centre and the states after regular settlements in the month of February 2023 is Rs 62,432 crore for CGST and Rs 63,969 crore for the SGST.

In addition, the Centre had also released a balance GST compensation of Rs 16,982 crore for the month of June 2022 and Rs 16,524 crore to States/UTs which have sent AG-certified figures for the previous period.

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