The Central government collected Rs Rs 1,49,577 crore as gross GST revenue collection in February 2023. This was the 12th-straight month of more than Rs 1.4 lakh crore per month collections — of which the CGST forms Rs 27,662 crore, SGST forms Rs 34,915 crore & IGST has Rs 75,069 crore (including Rs 35,689 crore collected on import of goods) and cess forms Rs 11,931 crore.

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The GST revenue for February 2023 is 12 percent higher than the GST revenue in the same month last year, which was Rs 1,33,026 crore, but its down 5 percent from the Rs 1,57,554 crore reported last month

In February, revenues from import of goods was 6 percent higher and the revenues from domestic transaction (including import of services) was 15 percent higher than the revenues from these sources during the same month last year. February also witnessed the highest cess collection of Rs 11,931 crore since the implementation of GST. As February is the shortest month of the year, it usually witnesses a relatively lower collection of revenue.

Among the major states, Tamil Nadu recorded a growth of 19 percent, Karnataka of 18 percent, Maharashtra of 15 percent, Uttar Pradesh 14 percent and Gujarat of 8 percent in collections for February.

The Centre has also settled Rs 34,770 crore of CGST and Rs 29,054 crore of SGST from IGST as regular settlement. The total revenue of the Centre and the states, after regular settlements in February 2023, is Rs 62,432 crore for CGST and Rs 63,969 crore for SGST. In addition, the Centre had also released the balance GST compensation of Rs 16,982 crore for June 2022 and Rs 16,524 crore to states/UTs which have sent AG-certified figures for the previous period.

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First Published:Mar 1, 2023 3:06 PM IST