This is the fifth month in a row of GST’s collection to exceed the 1 lakh crore rupee mark. The current cleaning is a 7 percent increase from the February collection last year.
This is a clear indication of the economic recovery and the impact of various measures taken by the tax administration to improve compliance, the Finance Ministry said.
“In line with the GST revenue recovery trend in the last five months, revenue for the month of February 2021 is 7% higher than GST revenue in the same month last year,” said the ministry in a statement.
“During the month, income from imports of goods was 15 percent higher and income from domestic transactions (including import of services) is 5 percent higher than income from these sources during the same month of the month. last year, “the statement added. .
In January 2021, the GST Collections it had risen to an all-time high of around 1.20 lakh crore rupees as economic activities recovered after the removal of strict lockdown restrictions.
The elimination of the goods and services tax (GST), which is charged when a consumable item is sold or a service such as travel reservation is provided, in January was 8% higher than such receipts in the same month of 2020.
In a statement, the Finance Ministry had said that the collections for January 2021 were the highest since the implementation of the national tax in July 2017.
The best ever was in December 2020, when 1,15,174 crore was raised.
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