India's February 2024 GST collections surge 12.5% annually to Rs.1.68 lakh crore

India's Goods and Services Tax (GST) revenue for February 2024 has soared to Rs.1,68,337 crore, showcasing a surge of 12.5% compared to the same month in 2023. The latest figures were released by the Ministry of Finance on Friday, March 1

The growth in GST revenue is attributed to a multitude of factors, primarily driven by a substantial 13.9% uptick in GST from domestic transactions, coupled with an 8.5% increase in GST from import of goods.

"GST revenue net of refunds for February 2024 is Rs.1.51 lakh crore which is a growth of 13.6% over that for the same period last year," according to a press release.

Source : https://www.cnbctv18.com/economy/india-gst-collections-february-2024-19178491.htm