GST collections rise 8% to Rs 1.83 lakh crore in February

India’s gross Goods and Services Tax (GST) collection rose 8.1 per cent year-on-year to over Rs 1.83 lakh crore in February, compared to around Rs 1.69 lakh crore in the same month last year, reflecting steady growth in indirect tax revenues.

The increase was largely driven by a strong surge in import-related revenues. Gross import revenue climbed 17.2 per cent to Rs 47,837 crore this February, up from about Rs 40,800 crore a year ago. In contrast, gross domestic revenue registered a moderate growth of 5.3 per cent , rising to around Rs 1.36 lakh crore from approximately Rs 1.29 lakh crore in February last year.

After adjusting for refunds, net GST collection stood at over Rs 1.61 lakh crore, marking a 7.9 per cent rise compared to roughly Rs 1.49 lakh crore in the corresponding month of the previous year.

Refunds issued during February increased 10.2 per cent to Rs 22,595 crore , compared to about Rs 20,500 crore last year, indicating faster processing of claims.

However, net cess revenue declined sharply to Rs 5,063 crore from Rs 13,481 crore in February last year, reflecting a significant drop under this component.

Overall, the comparison shows that while domestic collections grew at a moderate pace, higher import revenues played a key role in pushing up overall GST collections this February.