GST collections up 18%, cross Rs 1.3 trn in Feb despite Omicron curbs

Analysts are confident that GST collection for the current financial year will cross the Budget targets

Goods and services tax (GST) collection in February rose 18 per cent year-on-year to Rs 1.33 trillion, crossing the Rs 1.3-trillion mark for the fifth straight month, the finance ministry said on Tuesday. Government officials expect that the average monthly GST collection in FY23 will be around Rs 1.25 trillion.

The February mop-up reflects economic activity in January, when there were localised lockdowns due to the Omicron wave, and hence gross tax collection was lower than the record Rs 1.4 trillion netted in January, the ministry said. Analysts are confident that GST collection for the current financial year will cross the