National news : GST Collections In February 2024 Jump 12.5% YoY To Rs 1.68 Lakh Crore

Gross GST collection in February 2024 jumped 12.5 per cent year-on-year (YoY) to Rs 1,68,337 crore, according to an official statement released on Friday.

“Gross Goods and Services Tax (GST) revenue collected for February 2024 is Rs 1,68,337 crore, marking a robust 12.5 per cent increase compared to that in the same month in 2023. This growth was driven by a 13.9% rise in GST from domestic transactions and 8.5 per cent increase in GST from import of goods,” the finance ministry said in the statement.

GST revenue net of refunds for February 2024 stood at Rs 1.51 lakh crore, which is a 13.6 per cent growth over that for the same period last year.