Daijiworld Media Network - New Delhi
New Delhi, Mar 2: India’s Goods and Services Tax (GST) collections rose 8.1 per cent to Rs 1,83,609 crore in February, signalling improved consumption trends following recent rate rationalisation.
According to official data, domestic GST collections — based on January transactions — are estimated to have increased 5.3 per cent to Rs 1,35,772 crore. Revenue from imports recorded a sharper growth of 17.2 per cent at Rs 47,837 crore. This marks the third consecutive month of acceleration in collections since the revamped GST framework came into effect.
Experts attributed the rise to improving economic indicators and sustained demand.
M S Mani, partner at Deloitte, said the over 8 per cent growth in monthly and annual collections reflects a consumption push supported by strong GDP data and positive macroeconomic indicators released recently. With GST rates reduced for several items, the government is banking on higher volumes driven by consumption growth to offset part of the revenue impact.
Pratik Jain, partner at Price Waterhouse & Co, said gross GST collections are showing a steady upward trend after the revamped regime, indicating resilience in the economy backed by sustained demand. He noted that several consumption-driven states recorded relatively higher growth, suggesting that GST collections have entered a phase of stable and predictable expansion. He also pointed out that higher import growth reflects buoyancy in cross-border trade activities.
On a net basis, GST collections were 7.9 per cent higher at around Rs 1.6 lakh crore, even as refunds rose 10.2 per cent to Rs 22,595 crore.
Among states, Sikkim led the growth chart with a 67 per cent rise in collections, followed by Meghalaya at 33 per cent and Bihar at 23 per cent. On the other hand, Mizoram reported a 24 per cent decline, Uttarakhand saw a 10 per cent drop, and Madhya Pradesh recorded an 8 per cent fall.
Among major revenue contributors, Tamil Nadu registered a 6 per cent decline, while Maharashtra posted a 6 per cent increase. Uttar Pradesh recorded a 5 per cent rise, Gujarat saw a 9 per cent growth, and Karnataka reported an 11 per cent increase in collections during February.