GST collections rise 9 pc to Rs 1.84 lakh cr; indicate economic revival, say experts
GST
Dated:- 1-3-2025
PTI
New Delhi, Mar 1 (PTI) Gross GST collections rose by 9.1 per cent to about Rs 1.84 lakh crore in February, boosted by domestic consumption and indicating potential economic revival.
As per the official data released on Saturday, on a gross basis, mop up from Central GST stood at Rs 35,204 crore, State GST at Rs 43,704 crore, Integrated GST at Rs 90,870 crore and compensation cess of Rs 13,868 crore.
GST revenues from domestic transactions jumped 10.2 per cent to Rs 1.42 lakh crore while that from imports grew 5.4 per cent to Rs 41,702 crore during February.
Total refunds issued during February were Rs 20,889 crore,
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ent of domestic and export refunds, including those related to inverted duty structures, demonstrates its commitment to easing working capital pressures on businesses,” Agarwal said.
KPMG, Indirect Tax Head & Partner, Abhishek Jain said, “GST collections growth of 10.2 per cent on domestic supplies and overall growth of 9.1 per cent indicates a potential revival of economy for Q4. If the Maha Kumbh effect comes into play, next month's revenue growth could be even better”.
Deloitte India Partner MS Mani said while GST collections in large manufacturing and consuming states like Haryana, UP, Maharashtra, Tamil Nadu, MP, Karnataka have shown handsome increases in the range of 10- 20 per cent, a detailed evaluation on the reasons for the lo
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