The gross GST revenue collected in the month of February 2021 is Rs 1,13,143 crore, the Ministry of Finance informed in a statement.
Of the gross GST, CGST is Rs 21,092 crore, SGST is Rs 27,273 crore, IGST is Rs 55,253 crore (including Rs 24,382 crore collected on import of goods) and Cess is Rs 9,525 crore (including Rs 660 crore collected on import of goods).
The government has settled Rs 22,398 crore to CGST and Rs 17,534 crore to SGST from IGST as regular settlement. In addition, the Centre has also settled Rs 48,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs. The total revenue of the Centre and the States after regular settlement and ad-hoc settlement in the month of February 2021 is Rs 67,490 crore for CGST and Rs 68,807 crore for the SGST.
In line with the trend of recovery in the GST revenues over the past five months, the revenues for the month of February 2021 are 7 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 15 per cent higher and the revenues from the domestic transaction (including import of services) were 5 per cent higher than the revenues from these sources during the same month last year.
The GST revenues crossed Rs 1 lakh the fifth time in a row and crossed Rs 1.1 lakh crore third time in a row post-pandemic despite this being revenue collection of the month of February. This is a clear indication of the economic recovery and the impact of various measures taken by tax administration to improve compliance.
The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of February 2021 as compared to February 2020.