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GST
Gross Goods and Services Tax (GST) revenue collected for February 2024 is ₹1,68,337 crore, marking a robust 12.5% increase compared to that in the same month in 2023. This growth was driven by a 13.9% rise in GST from domestic transactions and 8.5% increase in GST from import of goods. GST revenue net of refunds for February 2024 is ₹1.51 lakh crore which is a growth of 13.6% over that for the same period last year.
Strong Consistent Performance in FY 2023-24: As of February 2024, the total gross GST collection for the current fiscal year stands at ₹18.40 lakh crore, which is 11.7% higher than the collection for the same period in FY 2022-23. The average monthly gross collection for FY 2023-24 is ₹1.67 lakh crore, exceeding the ₹1.5 lakh crore collected in the previous year's corresponding period. GST revenue net of refunds as of February 2024 for the current fiscal year is ₹16.36 lakh crore which is a growth of 13.0% over that for the same period last year. Overall, the GST revenue figures demonstrate continued growth momentum and positive performance.
Breakdown of February 2024 Collections:
- Central Goods and Services Tax (CGST): ₹31,785 crore
- State Goods and Services Tax (SGST): ₹39,615 crore
- Integrated Goods and Services Tax (IGST): ₹84,098 crore, including ₹38,593 crore collected on imported goods
- Cess: ₹12,839 crore, including ₹984 crore collected on imported goods
Inter-Governmental Settlement: The central government settled ₹41,856 crore to CGST and ₹35,953 crore to SGST from the IGST collected. This translates to a total revenue of ₹73,641 crore for CGST and ₹75,569 crore for SGST after regular settlement.
The chart below shows trends in monthly gross GST revenues during the current year. Table-1 shows the state-wise figures of GST collected in each State during the month of February, 2024 as compared to February, 2023. Table-2 shows the state-wise figures of post settlement GST revenue of each State till the month of February, 2024.
Chart: Trends in GST Collection
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Table 1: State-wise growth of GST Revenues during February, 2024[1]
|
State/UT |
Feb-23 |
Feb-24 |
Growth (%) |
|
Jammu and Kashmir |
434 |
532 |
23% |
|
Himachal Pradesh |
691 |
746 |
8% |
|
Punjab |
1,651 |
1,955 |
18% |
|
Chandigarh |
188 |
211 |
12% |
|
Uttarakhand |
1,405 |
1,525 |
9% |
|
Haryana |
7,310 |
8,269 |
13% |
|
Delhi |
4,769 |
5,544 |
16% |
|
Rajasthan |
3,941 |
4,211 |
7% |
|
Uttar Pradesh |
7,431 |
8,054 |
8% |
|
Bihar |
1,499 |
1,491 |
-1% |
|
Sikkim |
265 |
299 |
13% |
|
Arunachal Pradesh |
78 |
101 |
29% |
|
Nagaland |
54 |
51 |
-5% |
|
Manipur |
64 |
56 |
-13% |
|
Mizoram |
58 |
49 |
-14% |
|
Tripura |
79 |
85 |
8% |
|
Meghalaya |
189 |
193 |
2% |
|
Assam |
1,111 |
1,390 |
25% |
|
West Bengal |
4,955 |
5,357 |
8% |
|
Jharkhand |
2,962 |
2,933 |
-1% |
|
Odisha |
4,519 |
5,136 |
14% |
|
Chhattisgarh |
3,009 |
3,124 |
4% |
|
Madhya Pradesh |
3,235 |
3,572 |
10% |
|
Gujarat |
9,574 |
11,029 |
15% |
|
Dadra and Nagar Haveli and Daman & Diu |
283 |
355 |
25% |
|
Maharashtra |
22,349 |
27,065 |
21% |
|
Karnataka |
10,809 |
12,815 |
19% |
|
Goa |
493 |
581 |
18% |
|
Lakshadweep |
3 |
2 |
-36% |
|
Kerala |
2,326 |
2,688 |
16% |
|
Tamil Nadu |
8,774 |
9,713 |
11% |
|
Puducherry |
188 |
231 |
23% |
|
Andaman and Nicobar Islands |
31 |
39 |
28% |
|
Telangana |
4,424 |
5,211 |
18% |
|
Andhra Pradesh |
3,557 |
3,678 |
3% |
|
Ladakh |
24 |
35 |
43% |
|
Other Territory |
211 |
204 |
-3% |
|
Center Jurisdiction |
154 |
232 |
51% |
|
Grand Total |
1,13,096 |
1,28,760 |
14% |
Table-2: SGST & SGST portion of IGST settled to States/UTs
April-February (Rs. in crore)
|
|
Pre-Settlement SGST |
Post-Settlement SGST[2] |
||||
|
State/UT |
2022-23 |
2023-24 |
Growth |
2022-23 |
2023-24 |
Growth |
|
Jammu and Kashmir |
2,133 |
2,680 |
26% |
6,672 |
7,415 |
11% |
|
Himachal Pradesh |
2,150 |
2,371 |
10% |
5,133 |
5,138 |
0% |
|
Punjab |
7,023 |
7,689 |
9% |
17,810 |
20,240 |
14% |
|
Chandigarh |
577 |
626 |
9% |
1,963 |
2,117 |
8% |
|
Uttarakhand |
4,365 |
4,934 |
13% |
6,997 |
7,708 |
10% |
|
Haryana |
16,547 |
18,568 |
12% |
28,469 |
31,975 |
12% |
|
Delhi |
12,504 |
14,235 |
14% |
26,097 |
29,187 |
12% |
|
Rajasthan |
14,227 |
15,762 |
11% |
32,008 |
35,505 |
11% |
|
Uttar Pradesh |
24,900 |
29,560 |
19% |
60,572 |
69,782 |
15% |
|
Bihar |
6,678 |
7,478 |
12% |
21,319 |
24,231 |
14% |
|
Sikkim |
274 |
387 |
42% |
773 |
877 |
13% |
|
Arunachal Pradesh |
422 |
548 |
30% |
1,451 |
1,721 |
19% |
|
Nagaland |
203 |
270 |
33% |
884 |
955 |
8% |
|
Manipur |
288 |
310 |
8% |
1,318 |
1,011 |
-23% |
|
Mizoram |
189 |
245 |
29% |
798 |
879 |
10% |
|
Tripura |
390 |
455 |
17% |
1,348 |
1,435 |
6% |
|
Meghalaya |
435 |
550 |
26% |
1,370 |
1,557 |
14% |
|
Assam |
4,694 |
5,413 |
15% |
11,524 |
13,347 |
16% |
|
West Bengal |
19,626 |
21,407 |
9% |
35,884 |
38,335 |
7% |
|
Jharkhand |
7,034 |
7,967 |
13% |
10,359 |
11,220 |
8% |
|
Odisha |
12,779 |
14,796 |
16% |
17,636 |
22,636 |
28% |
|
Chhattisgarh |
6,765 |
7,417 |
10% |
10,320 |
12,450 |
21% |
|
Madhya Pradesh |
9,893 |
11,865 |
20% |
25,483 |
30,386 |
19% |
|
Gujarat |
34,364 |
38,465 |
12% |
52,751 |
58,317 |
11% |
|
Dadra and Nagar Haveli and Daman and Diu |
581 |
599 |
3% |
1,093 |
1,006 |
-8% |
|
Maharashtra |
77,909 |
91,584 |
18% |
1,18,392 |
1,34,593 |
14% |
|
Karnataka |
32,302 |
37,305 |
15% |
60,218 |
68,428 |
14% |
|
Goa |
1,830 |
2,137 |
17% |
3,270 |
3,752 |
15% |
|
Lakshadweep |
9 |
18 |
107% |
37 |
79 |
114% |
|
Kerala |
11,247 |
12,809 |
14% |
26,851 |
28,358 |
6% |
|
Tamil Nadu |
32,929 |
37,024 |
12% |
53,091 |
58,904 |
11% |
|
Puducherry |
426 |
467 |
10% |
1,069 |
1,255 |
17% |
|
Andaman and Nicobar Islands |
165 |
191 |
16% |
445 |
487 |
9% |
|
Telangana |
15,294 |
18,175 |
19% |
34,686 |
36,949 |
7% |
|
Andhra Pradesh |
11,462 |
12,695 |
11% |
26,121 |
28,873 |
11% |
|
Ladakh |
160 |
230 |
44% |
494 |
620 |
25% |
|
Other Territory |
165 |
218 |
32% |
542 |
1,043 |
93% |
|
Grand Total |
3,72,937 |
4,27,449 |
15% |
7,05,246 |
7,92,773 |
12% |