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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.
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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Business NewsEconomyGST collection rises 12.5% YoY to ₹1.68 lakh crore in February, gross FY24 sum at ₹18.4 lakh crore
First Published:1 Mar 2024, 04:48 PM IST
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