India’s Goods and Services Tax Receipts Rise 12.5% in February

Karobar Karobar
Mar 2, 2024 - 19:58 Updated: Mar 2, 2024 - 20:05
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India’s Goods and Services Tax Receipts Rise 12.5% in February

NEW DELHI: India’s goods and services tax (GST) collection in February rose 12.5% to 1.68 trillion rupees ($20.28 billion), according to a government statement on Friday.

The government had collected 1.50 trillion rupees as GST in the same period last year.

“The average monthly gross collection for financial year 2023/24 is 1.67 trillion rupees, exceeding the 1.5 trillion rupees collected in the previous year’s corresponding period,” the finance ministry said in a statement.

India’s financial year runs from April to March.

The federal government expects to garner 9.57 trillion rupees through GST in the current fiscal year.