GST collection of 1.49 lakh crore in February

The government collected Rs 1.49 lakh crore from the Goods and Services Tax (GST) in February 2023. It has increased by about 12% on an annual basis. In February 2022, there was a GST collection of Rs 1,33,026 crore. Whereas in January 2023 it was Rs 1,55,922 crore.
According to the Finance Ministry, Rs 28,963 crore has been collected as CGST, Rs 36,730 crore from SGST and Rs 79,599 crore as IGST. In the amount of IGST, Rs 37,118 crore has been collected as a tax on the import of goods.
So far in the financial year 2022-23, the month of April has been the highest GST collection. In April, it had kept Rs 1.68 lakh crore. After this, the highest GST collection was in January, Rs 1.56 lakh crore. The Finance Ministry said in a statement on Wednesday that the GST collection remained above Rs 1.4 lakh crore for the 12th consecutive month.
In the meeting held in February, the government reduced the tax on Raab (liquid good). GST on this was reduced from 18% to zero. If it is pre-packaged and labelled, it will attract tax at the rate of 5%. Apart from this, in the GST Council meeting, it was decided to reduce the GST rates on pencils and sharpeners. GST on pencils and sharpeners was reduced from 18% to 12%.