Business News Desk, In the month of February, a big good news has come for the central government. On the tax front, the government has made a big profit in February. There has been an increase of 12 percent in the GST collection in the month of February. The earning of the central government has increased by 12 percent to reach Rs 1.49 lakh crore. The Finance Ministry has given information about this by releasing the figures.
Finance Ministry gave information
Releasing the GST collection figures for February 2023, the Finance Ministry on Wednesday said that Rs 11,931 crore was collected as cess in this month, which is the highest level since the implementation of GST. However, there has been a decline in GST revenue in February as compared to January.
Record collection happened in January 2023
Let us tell you that there was a tax collection of Rs 1.57 lakh crore in January 2023, which is the second highest level ever. Rs 1.68 lakh crore is the highest level of GST collected in April, 2022.
Ministry issued statement
The Finance Ministry said in a statement, ‘The total GST collection in February 2023 has been Rs 1,49,577 crore. Of this, the Central GST (CGST) collection is Rs 27,662 crore while the State GST (SGST) collection is Rs 34,915 crore. At the same time, Rs 75,069 crore has been collected under the Integrated GST (IGST) head. Apart from this, a cess of Rs 11,931 crore is also included.
12 percent increased collection
A year ago, in the same month, the GST collection was Rs 1.33 lakh crore. In this way, in February 2023, there has been an increase of 12 percent in the GST collection on an annual basis. The ministry said that due to having only 28 days in the month of February, GST collection is generally less as compared to other months.