Goods and Services Tax (GST) collections for February declined to Rs 1.33 lakh crore, down 5.6 percent from the first month of 2022, data released on March 1 by the finance ministry showed.
Of the total, Central GST was Rs 24,435 crore, State GST was Rs 30,779 crore, Integrated GST was Rs 67,471 crore, and compensation cess was Rs 10,340 crore.
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In February, the government settled Rs 26,347 crore to Central GST and Rs 21,909 crore to State GST from Integrated GST. As such, the total revenue for the month post settlement was Rs 50,782 crore for the Centre and Rs 52,688 crore for State GST.
"February, being a 28-day month, normally witnesses revenues lower than that in January. This high growth during February 2022 should also be seen in the context of partial lockdowns, weekend and night curfews and various restrictions that were put in place by various States due to the omicron wave, which peaked around January 20," the finance ministry said in a statement.
While total GST collections declined sequentially last month, they were up 17.6 percent from February 2021. This is also the eighth month in a row that total GST mop-up has come in above the Rs 1-lakh-crore mark.
| TREND IN TOTAL GST COLLECTIONS |
| Month | Amount (in Rs crore) | YoY change (in %) |
| February 2022 | 1,33,026 | 17.6% |
| January 2022 | 1,40,986 | 17.6% |
| December 2021 | 1,29,780 | 12.7% |
| November 2021 | 1,31,526 | 25.3% |
| October 2021 | 1,30,127 | 23.7% |
| September 2021 | 1,17,010 | 22.5% |
| August 2021 | 1,12,020 | 29.6% |
| July 2021 | 1,16,393 | 33.1% |
| June 2021 | 92,800 | 2.1% |
The GST compensation cess collected in February is the highest ever, crossing the Rs 10,000-crore mark for the first time. The finance ministry said this indicated a recovery in certain key sectors, such as automobiles.
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