New Delhi, 1 March (IANS). India’s Goods and Services Tax (GST) collection has increased by 9.1 percent to Rs 1.84 lakh crore in February. This information was received from the government data released on Saturday.
This is the 12th consecutive month, when the GST collection has been more than Rs 1.7 lakh crore.
The reason for the increase in collection is the increase in GST revenue at a domestic level by 10.2 percent, which has been Rs 1.42 lakh crore in February. However, income from imports on imports increased by 5.4 percent to Rs 41,702 crore.
The Central GST collection in February stood at Rs 35,204 crore. The State GST collection has been Rs 43,704 crore.
The integrated GST collection has been Rs 90,870 crore. At the same time, a cess of Rs 13,868 crore has been collected last month.
If the refund is removed, the net GST collection increased by 8.1 percent to Rs 1.63 lakh crore in February 2025.
A refund of Rs 20,889 crore has been released last month, which was 17.3 percent more than the same period last year.
The reason for the reduction in the collection was 28 days in February.
India’s economy is seeing a boom. The country’s real GDP growth rate has increased to 6.2 percent in the third quarter of FY 2024-25, which was 5.6 percent (revised estimate) in the earlier quarter.
According to estimates released by the government, India’s real GDP growth is estimated to be 6.5 percent in FY 2024-25. During this period, the nominal GDP growth rate for the current financial year is estimated to be 9.9 percent.
Statistics stated that Real GVA (Gross Value Added) is estimated to be Rs 171.80 lakh crore in FY 2024-25, which was Rs 161.51 lakh crore in FY 2023-24. Its growth rate is estimated to be 6.4 percent in the current financial year, which was 8.6 percent in the previous financial year.
-IANS
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