India’s GST Collection Rises 8.1% in February Context: Gross Goods and Services Tax (GST) collections increased by 8.1% year-on-year, crossing ₹1.83 lakh crore in February. Domestic vs Import Revenue Gross domestic revenue rose 5.3% to approximately ₹1.36 lakh crore. Gross revenue from imports jumped 17.2% to ₹47,837 crore, driving overall growth. Net GST Collection Net GST revenue stood at over ₹1.61 lakh crore, reflecting a 7.9% annual increase. GST Rate Rationalisation GST rates on about 375 items were reduced. The earlier four tax slabs (5%, 12%, 18%, 28%) were merged into two main slabs — 5% and 18%. A new 40% slab was introduced for select ultra-luxury goods and tobacco products.
