February GST collections up 12%, third-highest of all time
Goods and Services Tax (GST) collections increased by 12% to over Rs. 1.49 lakh crore in February 2023, the Finance Ministry informed on Wednesday. February also witnessed the highest cess collection of Rs. 11,931 crore since implementing GST in 2017. The ministry also stated that GST revenue this year is 12% higher than revenue in February 2022, which was Rs. 1.33 lakh crore.
Third-highest GST collection of all time
Reportedly, India's February GST collections were the third-highest of all time. The second-highest was recorded in January at Rs. 1.57 lakh crore. In April of last year, GST revenues reached an all-time high of Rs. 1.68 lakh crore. As February is a 28-day month, it often witnesses a relatively lower collection of revenue, the ministry said.