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| GST Revenue collection for February 2022 crosses 1.30 lakh crore, mark for the 5th time |
Our Daily Current Affairs Dose 2022 will help you to crack the General Awareness section of Banking Insurance SSC Railway UPSC and all government jobs exams.
GST Revenue collection for February 2022 crosses 1.30 lakh crore, mark for the 5th time
Finance Ministry: The gross GST (Goods and Services Tax) revenue collection over 1,33,026 crore in February 2022, GST collection crossed Rs 1.30 lakh crore mark for the 5th time, which is a good sign for the Indian economy.
Read Also: Union Budget 2022-23: PDF in Hindi and English Both Language Available Here For UPSC, IAS Exams
The gross GST revenue collected in the month of February 2022 is Rs 1,33,026 crore of which CGST is Rs 24,435 crore, SGST is Rs 30,779 crore, IGST is Rs 67,471crore (including Rs 33,837 crore collected on import of goods) and cess is Rs 10,340 crore (including Rs 638 crore collected on import of goods).
Read Also: Economic Survey 2021-22: India GDP growth 8 to 8.5 pc in 2022-23
The government has settled Rs 26,347 crore to CGST and Rs 21,909 crore to SGST from IGST. The total revenue of Centre and the States in the month of February 2022 after regular settlement is Rs 50,782 crore for CGST and Rs 52,688 crore for the SGST.
Read Also: GST Revenue collection for January 2022 crosses 1.30 lakh crore, mark for the 4th time
The revenues for the month of February 2022 are 18% higher than the GST revenues in the same month last year and 26% higher than the GST revenues in February 2020. During the month, revenues from import of goods was 38% higher and the revenues from domestic transaction (including import of services) are 12% higher than the revenues from these sources during the same month last year.
This is for the fifth time GST collection has crossed Rs 1.30 lakh crore mark. Since implementation of GST, for the first time, GST cess collection crossed Rs 10,000 crore mark, which signifies recovery of certain key sectors, especially, automobile sales.
Important facts for upcoming exams from the above Current Affairs Topic
- President of India: Ram Nath Kovind
- Vice President of India: Venkaiah Naidu
- Prime Minister of India: Narendra Modi
- Chief Justice of India: N. V. Ramana
- Lok Sabha Speaker of India: Om Birla
- Capital of India: New Delhi
- Largest city of India: Mumbai
- Official languages of India: Hindi / English
- Currency of India: Indian rupee (₹) (INR)
- Total Population of India 2018 estimate: Neutral increase 1,352,642,280
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