Gross GST collections grow 9.1 pc to about Rs 1.84 lakh crore in February.

GST collections for January reached Rs 1.96 lakh crore, marking a 12.3% increase compared to the same period last year.

In December, GST collections stood at Rs 1.77 lakh crore, reflecting a 7.3% year-on-year rise. This was a slowdown from the 8.5% growth recorded in November, attributed to reduced consumption following the festive season.

Central GST collections for January were Rs 36,100 crore, while states received Rs 44,900 crore. Integrated GST collections amounted to Rs 1.01 lakh crore, and GST cess collections were reported at Rs 13,400 crore.

In the Budget, the government projected an 11% increase in GST revenue for the year, estimating collections at Rs 11.78 lakh crore, including Central GST and compensation cess.

Source: ECONOMICSTIMESINDIATIMES