GST collections in February Soar 9.1 PC A RS 1.84 Lakh Crore – Theprint –

Nueva Delhi (India), March 1 (ANI): Collections of the Gross Property Tax and Services (GST) for February 2025 saw a significant increase of 9.1 percent compared to the same month last year, reaching approximately RS 1.84 Lakh Crore, according to government data published on Saturday.

As the data show, the increase in GST collections was driven by a robust growth of 10.2 percent in national collections, which totaled approximately RS 1.42 Lakh Crore.

In addition, import revenues (gross import revenues) saw an increase of 5.4 percent, for a value of 41,702 million rupees.

In the breakdown of the GST collections of February 2025, the Central GST was at 35,204 million rupees, the GST of the RS 43,704 million rupees, while the integrated GST remained at the level of RS 90,870 million rupees.

The data reveal that the cessation of compensation stood at RS 13,868 million rupees.

In terms of reimbursements, RS 20,889 million rupees were issued during February 2025, marking a 17.3 percent increase in reimbursements compared to the previous year. Refund data show an efficient claims processing and a more favorable environment for companies.

Meanwhile, the Net GST collections, after taking into account reimbursements, grew by 8.1 percent, reaching around RS 1.63 Lakh Crore. This is a solid yield compared to the same month in the previous year, when GST’s gross collections amounted to RS 1.68 Lakh Crore and net collections were located in RS 1.50 Lakh million rupees.

The recent GST collections reflect a positive trajectory for the economy of India, which underlines robust national consumption and buoyant import activity. The figures are well for fiscal health and economic recovery efforts in the country, indicating resilience in the midst of global uncertainties.

The property and services tax was introduced in the country with effect as of July 1, 2017, and the states were compensation assured by the loss of any income that arises on account of the implementation of GST.

The GST Council, a federal agency that includes the Minister of Finance of the Union as president and finance ministers of all states as members, has played its role in the forum. The last meeting of the GST Council was held on December 21 in Jaisalmer, Rajasthan.

Hair oil, toothpaste, soap; detergents and dust washed, wheat; rice; Cuajada, Lassi, milk serum; Bracelet watches, television of up to 32 inches; refrigerators; The washing machines, mobile phones, are among the key articles in which GST rates have been substantially reduced, or for some kept at zero, benefiting people. From time to time, the list is being reviewed with the approval of the Council. (ANI)

This report is automatically generated from the ANI news service. Theprint is not responsible for its content.