GST revenue collection has again fallen down in numbers for the Month of February. The month witnessed a lower GST collection of Rs 97, 200 crores against Rs 1 lakh crore which has been collected in the month of January.
As per the Government data, “The Integrated GST (IGST) has grown to Rs 47,000 crore whereas, the collection for Central GST (CGST) is Rs 17,600 crore and State GST (SGST) stood at Rs 24,200 crore.”
In the Month of January 2019, more than 1 Lakh Crore has been the gross GST revenue collection which is good, if not remarkable. In other comparisons, the collection was Rs 94,725 crore in December 2018 and Rs 89,825 crore during January 2018. It has been thrice in the current fiscal that the GST Collection has crossed the Rs 1 lakh crore-mark. It was in the month of April and October last year that the collection has crossed the milestone of Rs 1 lakh crore.
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In the Current Fiscal till Feb, the GST revenue collection has reached a mark of Rs 10.70 lakh crore.
The GST collection target has been lowered by the Government for the current Financial year from Rs 13.71 lakh crore as budget previously to Rs 11.47 lakh crore.
Now again, the GST collection target has been revised by the Government and has been set at Rs 13.71 lakh crore for the next fiscal 2019-20. If we talk regarding the conventional rules, the GST collection data is usually get released on the first day of the succeeding month.
