The Union Finance Ministry,  said that the GST collection for February 2023 stood at Rs 1.49 lakh crore – 12 per cent higher than the GST revenues in February 2022. According to the details shared by the ministry, the monthly GST revenues have been more than Rs 1.4 lakh crore for 12 straight months in a row.

In February 2022, the GST collection stood at Rs 1,33,026 crore. While revenues from import goods are higher 6 per cent, revenues from domestic transaction (including import of services) are 15% higher as against the corresponding month last year. The month also witnessed the highest cess collection of Rs 11,931 crore since implementation of GST. Collections for February are usually lesser than other months by virtue of having less calendar days

“The government has settled ₹34,770 crore to CGST and ₹29,054 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of February 2023 is ₹62,432 crore for CGST and ₹63,969 crore for the SGST. In addition, Centre had also released balance GST compensation of ₹16,982 crore for the month of June 2022 and ₹16,524 crore to States/UTs which have sent AG certified figures for previous period,” the Finance Ministry said in a statement.

“Year-on-Year revenues from import of goods 6% higher and domestic transaction (including import of services) 15% higher,” the ministry said in another tweet.