GST Collections Surge by 9.1% in February

Gross GST collections increased by 9.1% to approximately Rs 1.84 lakh crore in February, with domestic revenues rising by 10.2% and import revenues by 5.4%. Total refunds issued were Rs 20,889 crore, up 17.3% from last year. Net GST collections for the month were Rs 1.63 lakh crore.

February saw a significant boost in Gross Goods and Services Tax (GST) collections, which surged by 9.1% to reach almost Rs 1.84 lakh crore, as reported by official data.

The spike was largely driven by a 10.2% increase in domestic revenues, totaling Rs 1.42 lakh crore, alongside a 5.4% rise in import revenues at Rs 41,702 crore.

Central GST contributed Rs 35,204 crore, State GST Rs 43,704 crore, and Integrated GST Rs 90,870 crore, with the compensation cess tallying Rs 13,868 crore. Moreover, refunds issued amounted to Rs 20,889 crore, a 17.3% increase from the previous year, while net collections rose 8.1% to Rs 1.63 lakh crore.

(With inputs from agencies.)