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Ministry of Finance
Second highest monthly Gross GST Revenue collection in March at ₹1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis)
Yearly gross revenue ₹20.18 lakh crore; 11.7% growth (13.4% on net basis)
Posted On:
01 APR 2024 3:41PM by PIB Delhi
Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹1.78 lakh crore, with a 11.5% year-on-year growth. This surge was driven by a significant rise in GST collection from domestic transactions at 17.6%. GST revenue net of refunds for March 2024 is ₹1.65 lakh crore which is growth of 18.4% over same period last year.
Strong Consistent Performance in FY 2023-24: FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.18 lakh crore exceeding ₹20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for this fiscal year stands at ₹1.68 lakh crore, surpassing the previous year’s average of ₹1.5 lakh crore. GST revenue net of refunds as of March 2024 for the current fiscal year is ₹18.01 lakh crore which is a growth of 13.4% over same period last year.
Positive Performance Across Components:
Breakdown of March 2024 Collections:
- Central Goods and Services Tax (CGST): ₹34,532 crore;
- State Goods and Services Tax (SGST): ₹43,746 crore;
- Integrated Goods and Services Tax (IGST): ₹87,947 crore, including ₹40,322 crore collected on imported goods;
- Cess: ₹12,259 crore, including ₹996 crore collected on imported goods.
Similar positive trends are observed in the entire FY 2023-24 collections:
- Central Goods and Services Tax (CGST): ₹3,75,710 crore;
- State Goods and Services Tax (SGST): ₹4,71,195 crore;
- Integrated Goods and Services Tax (IGST): ₹10,26,790 crore, including ₹4,83,086 crore collected on imported goods;
- Cess: ₹1,44,554 crore, including ₹11,915 crore collected on imported goods.
Inter-Governmental Settlement: In the month of March, 2024, the Central Government settled ₹43,264 crore to CGST and ₹37,704 crore to SGST from the IGST collected. This translates to a total revenue of ₹77,796 crore for CGST and ₹81,450 crore for SGST for March, 2024 after regular settlement. For the FY 2023-24, the central government settled ₹4,87,039 crore to CGST and ₹4,12,028 crore to SGST from the IGST collected.
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 March, 2024 as compared to March, 2023. Table-2 shows the state-wise figures of post settlement GST revenue of each State till the month of March, 2024.
Chart: Trends in GST Collection
Table 1: State-wise growth of GST Revenues during March, 2024[1]
|
State/UT
|
Mar-23
|
Mar-24
|
Growth (%)
|
|
Jammu and Kashmir
|
477
|
601
|
26%
|
|
Himachal Pradesh
|
739
|
852
|
15%
|
|
Punjab
|
1,735
|
2,090
|
20%
|
|
Chandigarh
|
202
|
238
|
18%
|
|
Uttarakhand
|
1,523
|
1,730
|
14%
|
|
Haryana
|
7,780
|
9,545
|
23%
|
|
Delhi
|
4,840
|
5,820
|
20%
|
|
Rajasthan
|
4,154
|
4,798
|
15%
|
|
Uttar Pradesh
|
7,613
|
9,087
|
19%
|
|
Bihar
|
1,744
|
1,991
|
14%
|
|
Sikkim
|
262
|
303
|
16%
|
|
Arunachal Pradesh
|
144
|
168
|
16%
|
|
Nagaland
|
58
|
83
|
43%
|
|
Manipur
|
65
|
69
|
6%
|
|
Mizoram
|
70
|
50
|
-29%
|
|
Tripura
|
90
|
121
|
34%
|
|
Meghalaya
|
202
|
213
|
6%
|
|
Assam
|
1,280
|
1,543
|
21%
|
|
West Bengal
|
5,092
|
5,473
|
7%
|
|
Jharkhand
|
3,083
|
3,243
|
5%
|
|
Odisha
|
4,749
|
5,109
|
8%
|
|
Chhattisgarh
|
3,017
|
3,143
|
4%
|
|
Madhya Pradesh
|
3,346
|
3,974
|
19%
|
|
Gujarat
|
9,919
|
11,392
|
15%
|
|
Dadra and Nagar Haveli and Daman & Diu
|
309
|
452
|
46%
|
|
Maharashtra
|
22,695
|
27,688
|
22%
|
|
Karnataka
|
10,360
|
13,014
|
26%
|
|
Goa
|
515
|
565
|
10%
|
|
Lakshadweep
|
3
|
2
|
-18%
|
|
Kerala
|
2,354
|
2,598
|
10%
|
|
Tamil Nadu
|
9,245
|
11,017
|
19%
|
|
Puducherry
|
204
|
221
|
9%
|
|
Andaman and Nicobar Islands
|
37
|
32
|
-14%
|
|
Telangana
|
4,804
|
5,399
|
12%
|
|
Andhra Pradesh
|
3,532
|
4,082
|
16%
|
|
Ladakh
|
23
|
41
|
82%
|
|
Other Territory
|
249
|
196
|
-21%
|
|
Center Jurisdiction
|
142
|
220
|
55%
|
|
Grand Total
|
1,16,659
|
1,37,166
|
18%
|
Table-2: SGST & SGST portion of IGST settled to States/UTs April-March (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
|
2,350
|
2,945
|
25%
|
7,272
|
8,093
|
11%
|
|
Himachal Pradesh
|
2,346
|
2,597
|
11%
|
5,543
|
5,584
|
1%
|
|
Punjab
|
7,660
|
8,406
|
10%
|
19,422
|
22,106
|
14%
|
|
Chandigarh
|
629
|
689
|
10%
|
2,124
|
2,314
|
9%
|
|
Uttarakhand
|
4,787
|
5,415
|
13%
|
7,554
|
8,403
|
11%
|
|
Haryana
|
18,143
|
20,334
|
12%
|
30,952
|
34,901
|
13%
|
|
Delhi
|
13,619
|
15,647
|
15%
|
28,284
|
32,165
|
14%
|
|
Rajasthan
|
15,636
|
17,531
|
12%
|
35,014
|
39,140
|
12%
|
|
Uttar Pradesh
|
27,366
|
32,534
|
19%
|
66,052
|
76,649
|
16%
|
|
Bihar
|
7,543
|
8,535
|
13%
|
23,384
|
27,622
|
18%
|
|
Sikkim
|
301
|
420
|
39%
|
839
|
951
|
13%
|
|
Arunachal Pradesh
|
494
|
628
|
27%
|
1,623
|
1,902
|
17%
|
|
Nagaland
|
228
|
307
|
35%
|
964
|
1,057
|
10%
|
|
Manipur
|
321
|
346
|
8%
|
1,439
|
1,095
|
-24%
|
|
Mizoram
|
230
|
273
|
19%
|
892
|
963
|
8%
|
|
Tripura
|
435
|
512
|
18%
|
1,463
|
1,583
|
8%
|
|
Meghalaya
|
489
|
607
|
24%
|
1,490
|
1,713
|
15%
|
|
Assam
|
5,180
|
6,010
|
16%
|
12,639
|
14,691
|
16%
|
|
West Bengal
|
21,514
|
23,436
|
9%
|
39,052
|
41,976
|
7%
|
|
Jharkhand
|
7,813
|
8,840
|
13%
|
11,490
|
12,456
|
8%
|
|
Odisha
|
14,211
|
16,455
|
16%
|
19,613
|
24,942
|
27%
|
|
Chhattisgarh
|
7,489
|
8,175
|
9%
|
11,417
|
13,895
|
22%
|
|
Madhya Pradesh
|
10,937
|
13,072
|
20%
|
27,825
|
33,800
|
21%
|
|
Gujarat
|
37,802
|
42,371
|
12%
|
58,009
|
64,002
|
10%
|
|
Dadra and Nagar Haveli and Daman and Diu
|
637
|
661
|
4%
|
1,183
|
1,083
|
-8%
|
|
Maharashtra
|
85,532
|
1,00,843
|
18%
|
1,29,129
|
1,49,115
|
15%
|
|
Karnataka
|
35,429
|
40,969
|
16%
|
65,579
|
75,187
|
15%
|
|
Goa
|
2,018
|
2,352
|
17%
|
3,593
|
4,120
|
15%
|
|
Lakshadweep
|
10
|
19
|
93%
|
47
|
82
|
75%
|
|
Kerala
|
12,311
|
13,967
|
13%
|
29,188
|
30,873
|
6%
|
|
Tamil Nadu
|
36,353
|
41,082
|
13%
|
58,194
|
65,834
|
13%
|
|
Puducherry
|
463
|
509
|
10%
|
1,161
|
1,366
|
18%
|
|
Andaman and Nicobar Islands
|
183
|
206
|
12%
|
484
|
528
|
9%
|
|
Telangana
|
16,877
|
20,012
|
19%
|
38,008
|
40,650
|
7%
|
|
Andhra Pradesh
|
12,542
|
14,008
|
12%
|
28,589
|
31,606
|
11%
|
|
Ladakh
|
171
|
250
|
46%
|
517
|
653
|
26%
|
|
Other Territory
|
201
|
231
|
15%
|
721
|
1,123
|
56%
|
|
Grand Total
|
4,10,251
|
4,71,195
|
15%
|
7,70,747
|
8,74,223
|
13%
|
****
YKB/VM/KMN
[1]Does not include GST on import of goods
[2] Post-Settlement GST is cumulative of the GST revenues of the States/UTs and the SGST portion of the IGST settled to the States/UTs
(Release ID: 2016802)
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