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Indian Economy - Understanding the basics of Indian economic system

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02-Mar-24

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GST collection surges 12.5% to nearly Rs 1.7 lakh crore in February

Gross GST collection in February 2024 jumped 12.5 per cent year-on-year (YoY) to Rs 1,68,337 crore, according to an official statement released on Friday ( 01 March, 2024)

GST revenue net of refunds for February 2024 stood at Rs 1.51 lakh crore, which is a 13.6 per cent growth over that for the same period last year.
With the latest collections of February 2024, the total gross GST collection for the current financial year stands at Rs 18.40 lakh crore, which is 11.7 per cent higher than the collection for the same period in FY 2022-23.
A strong 12.5 per cent growth in overall GST collections and specially 13.9 per cent growth in GST collections from domestic transactions have added to the cheer of 8.4 per cent growth in GDP in Q3.

By: Brijesh Kumar

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