barCreated with sketchtool.
Nirmala Sitharaman: 'PFMS Benefits 60 Crore People, Becomes World's Largest Financial Management System'
Mar 02, 2025 03:33 pm
By
infodivyadelhi

Divya Delhi: According to government figures issued on Saturday, February 2025 GST collections rose 9.1% to Rs 1.84 lakh crore. The data shows that 10.2% growth in domestic GST collections, totaling Rs 1.42 lakh crore, drove the increase. Gross import income rose 5.4% to Rs 41,702 crore. In February 2025, the Central GST collected Rs 35,204 crore, the state GST Rs 43,704 crore, and the Integrated GST Rs 90,870 crore. The Compensation Cess was Rs 13,868 crore. February 2025 refunds totaled Rs 20,889 crore, up 17.3% from the previous year. The refund data reveals efficient claims processing and a better business environment. After refunds, net GST receipts rose 8.1% to Rs 1.63 lakh crore. This is better than the same month last year, when gross GST collections were Rs 1.68 lakh crore and net collections were Rs 1.50 lakh crore. GST receipts show strong domestic consumption and import activity, boosting India's GDP. Despite global uncertainty, the results support the country's budgetary health and economic recovery. The Goods and Services Tax was implemented   and states were compensated for revenue losses. The GST Council, chaired by the Union Finance Minister and composed of State Finance Ministers, has participated in the forum. December 21 saw the GST Council's latest meeting in Jaisalmer, Rajasthan. Hair oil, toothpaste, soap; detergents and washing powder, wheat; rice; curd, lassi, buttermilk; wristwatches,  up to 32 inches; refrigerators; washing machines; and mobile phones have had GST rates reduced or eliminated, benefiting consumers. With Council approval, the list is updated periodically.