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Business News/ Economy / GST collection rises 12.5% YoY to 1.68 lakh crore in February, gross FY24 sum at 18.4 lakh crore
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GST collection rises 12.5% YoY to ₹1.68 lakh crore in February, gross FY24 sum at ₹18.4 lakh crore

The average monthly gross collection for the current fiscal stood at ₹1.67 lakh crore, exceeding ₹1.5 lakh crore in the last fiscal.

Ths gross FY24 GST collections is ₹18.4 lakh crore (iStockphoto) (MINT_PRINT)Premium
Ths gross FY24 GST collections is 18.4 lakh crore (iStockphoto) (MINT_PRINT)

The GST collection in February grew 12.5 per cent to over 1.68 lakh crore, buoyed by domestic transactions, the finance ministry said on Friday.

The total gross GST collection for the current fiscal (April 2023-February 2024) stands at 18.40 lakh crore, 11.7 per cent higher than the mopup for the same period last fiscal.

The average monthly gross collection for the current fiscal stood at 1.67 lakh crore, exceeding 1.5 lakh crore in the last fiscal.

"Gross Goods and Services Tax (GST) revenue collected for February 2024 is 1,68,337 crore, marking a robust 12.5 per cent increase compared to that in the same month in 2023," the ministry said in a statement.

This growth was driven by a 13.9 per cent rise in GST from domestic transactions and an 8.5 per cent increase in GST from import of goods.

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Published: 01 Mar 2024, 04:48 PM IST
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