CURRENT AFFAIRS

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

In February 2023, by what percentage did the GST collections rise to Rs. ____ lakh crore?

A	2.30
B	1.26
C	2.45
D	1.49

Explanation:

Detailed explanation-1: -India’s Goods and Services Tax (GST) revenues grew 12.4% in February 2023 to over ₹1.49 lakh crore, with tax receipts from goods imports rising 6% and domestic transactions along with services imports yielding 15% more, compared to a year ago.

Detailed explanation-2: -February 2023 witnessed the highest cess collection of Rs 11, 931 crore since the implementation of GST. GST collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry said on Wednesday. February 2023 witnessed the highest cess collection of Rs 11, 931 crore since implementation of GST.

Detailed explanation-3: -₹1, 49, 577 crore gross GST revenue collected in February 2023; 12% higher than GST revenues in same month last year.

Detailed explanation-4: -GST collections for July remained above ₹1.4 lakh crore for the fifth straight month. Gross GST revenue collected in the month of July 2022 at ₹1, 48, 995 crore, which was the second highest collection ever since the introduction of the Goods and Services Tax.

There is 1 question to complete.