The return filing percentage has increased a lot,economy has become robust and the effect of Covid is over.
New Delhi:A Finance Ministry statement said the collection in the month under review is 12 per cent higher than the GST revenues in the same month last year, around ₹1.33 last year.
During the month, revenues from import of goods was 6% higher and the revenues from domestic transaction (including import of services) are 15% higher than the revenues from these sources during the same month last year.
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.
Trends indicate that the last quarter usually registers increased collections, and March logs the highest collection figure of the year. March 2022 registered the highest-ever collections at Rs 1.67 lakh crore.
Break Up of GST Collection:
Gross GST revenue: Rs 1,49,577 crore Central GST: Rs 27,662 crore State GST: Rs 34,915 crore Integrated GST: Rs 75,069 crore, including Rs 35,689 crore collected on imports of goods. Cess: Rs 11,931 crore, including Rs 792 crore collected on imports of goods.
The government settled Rs 34,770 crore to Central GST and Rs 29,054 crore to State GST from Integrated GST. As such, post-settlement, the total revenue of the Centre and the states in February was Rs 62,432 crore and Rs 63,969 crore, respectively.