Ministry of Finance

₹1,68,337 crore gross GST revenue collected during February 2024; records Year-on-Year (Y-o-Y) growth of 12.5%


Average monthly gross collection for FY2023-24 is ₹1.67 lakh crore, exceeding ₹1.5 lakh crore for FY2022-23

Gross GST collection reaches ₹18.40 lakh crore for FY2023-24, grows 11.7% Y-o-Y

Net revenue at ₹1.51 lakh crore is up 13.6% for the month and up by 13% for the year at ₹16.36 lakh crore

Posted On: 01 MAR 2024 4:26PM by PIB Delhi

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

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%

 

****

NB/VM/KMN



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