GST Collection surpass Rs.1.30 lakh crore in February 2022

GST Collection in February 2022

GST revenue collected in February 2022 is ₹1,33,026 crores of which CGST is ₹24,435 crores, SGST is ₹30,779 crores, IGST is ₹67,471 crores (including ₹33,837 crores collected on import of goods) and cess is ₹10,340 crores (including ₹638 crores collected on import of goods).

Total GST collection is up 17.6 percent from February 2021 but 5.6 percent down from January 2022.

The Govt has settled ₹26,347 crores to CGST and ₹21,909 crores to SGST from IGST. The total revenue of Centre and the States in the month of February 2022 after the regular settlement is ₹50,782 crores for CGST and ₹52,688 crores for the SGST,” the Ministry of Finance said.

Read This:- What Documents Required for GST Registration in 2021?

GST Collection Chart

MonthsAmount (in Crores)
April 20211,39,708
May 202197,821
June 202192,800
July 20211,16,393
August 20211,12,020
September 20211,17,010
October 20211,30,127
November 20211,31,526
December 20211,29,780
January 20221,40,986
February 20221,33,026

GST compensation cess collected in February is the highest ever, crossing the Rs 10,000 crores mark for the first time, especially in automobile sales.

Read This:- LIC IPO Date, Price Analysis, GMP & Allotment Details 2022

February is a 28-day month, normally witnessing revenues lower than that in January, and low collection compare to January month due to omicron partial lockdown, weekend and night curfew, and other various restrictions.

For any query or complaint mail at [email protected]

Follow on Twitter | Like on Facebook

Follow on Instagram | Join on Telegram or Search @filingreturn