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 aims to collect $1.7bn from online gambling tax in FY25

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.