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| GST Revenue collection for February 2023 crosses 1.49 lakh crore, 12% higher than same month last year |
Dear Aspirants, EducationBro is here with a Daily Current Affairs Dose. In this session, we will make the candidates aware of the daily current affairs topics, which will improve their general awareness, while also taking care that the candidates should not have any shortage of trending current affairs related to any country and abroad. Today’s Current Affairs topic is GST Revenue collection for February 2023 crosses 1.49 lakh crore, 12% higher than same month last year.
GST Revenue collection for February 2023 crosses 1.49 lakh crore, 12% higher than same month last year
Finance Ministry: The gross GST (Goods and Services Tax) revenue collection over ₹1,49,577 crore in February 2023, 12% higher than GST revenues in same month last year which is a good sign for the Indian economy.
Read Also: Union Budget 2023-24: PDF in Hindi and English Both Language Available Here For UPSC, IAS Exams
The gross GST revenue collected in the month of February 2023 is ₹1,49,577 crore of which CGST is ₹27,662 crore, SGST is ₹34,915 crore, IGST is ₹75,069 crore (including ₹35,689 crore collected on import of goods) and Cess is ₹11,931 crore (including ₹792 crore collected on import of goods).
The government has settled ₹34,770 crore to CGST and ₹29,054 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of February 2023 is ₹62,432 crore for CGST and ₹63,969 crore for the SGST.
Read Also: Economic Survey 2022-23: India's GDP growth 6 to 6.8 pc in 2023-24
In addition, Centre had also released the balance GST compensation of ₹16,982 crore for the month of June 2022 and ₹16,524 crore to States/UTs which have sent AG certified figures for the previous period.
The revenues for the month of February 2023 are 12% higher than the GST revenues in the same month last year, which was Rs. 1,33,026 crore. During the month, revenues from import of goods was 6% higher and the revenues from domestic transactions (including import of services) was 15% higher than the revenues from these sources during the same month last year.
This month witnessed the highest cess collection of ₹11,931 crore since implementation of GST. Normally, February being a 28 day month, witnesses a relatively lower collection of revenue.
Important facts for upcoming exams from the above Current Affairs Topic
- President of India: Droupadi Murmu
- Vice President of India: Jagdeep Dhankhar
- Prime Minister of India: Narendra Modi
- Chief Justice of India: Justice DY Chandrachud
- 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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