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Ministry of Finance
Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore; Records 10% y-o-y growth
₹3.83 lakh crore gross GST revenue collection in FY2024-25 (till May 2024) records 11.3% y-o-y growth Net Revenue (after refunds) grows 11.6% in FY 2024-25 (till May 2024) Domestic Gross GST Revenue grows 15.3% in May, 2024
Posted On:
01 JUN 2024 7:03PM by PIB Delhi
The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at ₹1.73 lakh crore. This represents a 10% year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%). After accounting for refunds, the net GST revenue for May 2024 stands at ₹1.44 lakh crore, reflecting a growth of 6.9% compared to the same period last year.
Breakdown of May 2024 Collections:
- Central Goods and Services Tax (CGST): ₹32,409 crore;
- State Goods and Services Tax (SGST): ₹40,265 crore;
- Integrated Goods and Services Tax (IGST): ₹87,781 crore, including ₹39,879 crore collected on imported goods;
- Cess: ₹12,284 crore, including ₹1,076 crore collected on imported goods.
The gross GST collections in the FY 2024-25 till May 2024 stood at ₹3.83 lakh crore. This represents an impressive 11.3% year-on-year growth, driven by a strong increase in domestic transactions (up 14.2%) and marginal increase in imports (up 1.4%). After accounting for refunds, the net GST revenue in the FY 2024-25 till May 2024 stands at ₹3.36 lakh crore, reflecting a growth of 11.6% compared to the same period last year.
Breakdown of collections in the FY 2024-25 till May, 2024, are as below:
- Central Goods and Services Tax (CGST): ₹76,255 crore;
- State Goods and Services Tax (SGST): ₹93,804 crore;
- Integrated Goods and Services Tax (IGST): ₹1,87,404 crore, including ₹77,706 crore collected on imported goods;
- Cess: ₹25,544 crore, including ₹2,084 crore collected on imported goods.
Inter-Governmental Settlement:
In the month of May, 2024, the Central Government settled ₹38,519 crore to CGST and ₹32,733 crore to SGST from the net IGST collected of ₹67,204 crore. This translates to a total revenue of ₹70,928 crore for CGST and ₹72,999 crore for SGST in May, 2024, after regular settlement.
Similarly, in the FY 2024-25 till May 2024 the Central Government settled ₹88,827 crore to CGST and ₹74,333 crore to SGST from the net IGST collected of ₹154,671 crore. This translates to a total revenue of ₹1,65,081 crore for CGST and ₹1,68,137 crore for SGST in FY 2024-25 till May 2024 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 May, 2024 as compared to May, 2023. Table-2 shows the state-wise figures of post settlement GST revenue of each State for the month of May, 2024.
Chart: Trends in GST Collection
Table 1: State-wise growth of GST Revenues during May, 2024[1]
|
State/UT
|
May-23
|
May-24
|
Growth (%)
|
|
Jammu and Kashmir
|
422
|
525
|
24%
|
|
Himachal Pradesh
|
828
|
838
|
1%
|
|
Punjab
|
1,744
|
2,190
|
26%
|
|
Chandigarh
|
259
|
237
|
-9%
|
|
Uttarakhand
|
1,431
|
1,837
|
28%
|
|
Haryana
|
7,250
|
9,289
|
28%
|
|
Delhi
|
5,147
|
7,512
|
46%
|
|
Rajasthan
|
3,924
|
4,414
|
13%
|
|
Uttar Pradesh
|
7,468
|
9,091
|
22%
|
|
Bihar
|
1,366
|
1,521
|
11%
|
|
Sikkim
|
334
|
312
|
-7%
|
|
Arunachal Pradesh
|
120
|
98
|
-18%
|
|
Nagaland
|
52
|
45
|
-14%
|
|
Manipur
|
39
|
58
|
48%
|
|
Mizoram
|
38
|
39
|
3%
|
|
Tripura
|
75
|
73
|
-3%
|
|
Meghalaya
|
214
|
172
|
-20%
|
|
Assam
|
1,217
|
1,228
|
1%
|
|
West Bengal
|
5,162
|
5,377
|
4%
|
|
Jharkhand
|
2,584
|
2,700
|
4%
|
|
Odisha
|
4,398
|
5,027
|
14%
|
|
Chhattisgarh
|
2,525
|
2,853
|
13%
|
|
Madhya Pradesh
|
3,381
|
3,402
|
1%
|
|
Gujarat
|
9,800
|
11,325
|
16%
|
|
Dadra and Nagar Haveli and Daman & Diu
|
324
|
375
|
16%
|
|
Maharashtra
|
23,536
|
26,854
|
14%
|
|
Karnataka
|
10,317
|
11,889
|
15%
|
|
Goa
|
523
|
519
|
-1%
|
|
Lakshadweep
|
2
|
1
|
-39%
|
|
Kerala
|
2,297
|
2,594
|
13%
|
|
Tamil Nadu
|
8,953
|
9,768
|
9%
|
|
Puducherry
|
202
|
239
|
18%
|
|
Andaman and Nicobar Islands
|
31
|
37
|
18%
|
|
Telangana
|
4,507
|
4,986
|
11%
|
|
Andhra Pradesh
|
3,373
|
3,890
|
15%
|
|
Ladakh
|
26
|
15
|
-41%
|
|
Other Territory
|
201
|
207
|
3%
|
|
Center Jurisdiction
|
187
|
245
|
30%
|
|
Grand Total
|
1,14,261
|
1,31,783
|
15%
|
Table-2: SGST & SGST portion of IGST settled to States/UTs in
May (Rs. in crore)
|
|
Pre-Settlement SGST
|
Post-Settlement SGST[2]
|
|
State/UT
|
May-23
|
May-24
|
Growth
|
May-23
|
May-24
|
Growth
|
|
Jammu and Kashmir
|
178
|
225
|
26%
|
561
|
659
|
17%
|
|
Himachal Pradesh
|
189
|
187
|
-1%
|
435
|
436
|
0%
|
|
Punjab
|
638
|
724
|
14%
|
1,604
|
1,740
|
8%
|
|
Chandigarh
|
48
|
54
|
12%
|
168
|
178
|
6%
|
|
Uttarakhand
|
411
|
476
|
16%
|
666
|
714
|
7%
|
|
Haryana
|
1,544
|
1,950
|
26%
|
2,568
|
3,025
|
18%
|
|
Delhi
|
1,295
|
1,477
|
14%
|
2,539
|
2,630
|
4%
|
|
Rajasthan
|
1,386
|
1,506
|
9%
|
3,020
|
3,315
|
10%
|
|
Uttar Pradesh
|
2,384
|
2,736
|
15%
|
5,687
|
6,848
|
20%
|
|
Bihar
|
623
|
695
|
11%
|
2,058
|
2,298
|
12%
|
|
Sikkim
|
31
|
26
|
-15%
|
84
|
66
|
-21%
|
|
Arunachal Pradesh
|
60
|
45
|
-26%
|
187
|
152
|
-19%
|
|
Nagaland
|
21
|
19
|
-9%
|
83
|
79
|
-4%
|
|
Manipur
|
23
|
32
|
35%
|
77
|
107
|
39%
|
|
Mizoram
|
21
|
22
|
3%
|
79
|
77
|
-3%
|
|
Tripura
|
40
|
36
|
-9%
|
135
|
138
|
2%
|
|
Meghalaya
|
56
|
52
|
-7%
|
158
|
154
|
-3%
|
|
Assam
|
488
|
511
|
5%
|
1,170
|
1,280
|
9%
|
|
West Bengal
|
1,952
|
2,030
|
4%
|
3,407
|
3,628
|
6%
|
|
Jharkhand
|
653
|
735
|
13%
|
976
|
1,135
|
16%
|
|
Odisha
|
1,255
|
1,415
|
13%
|
1,676
|
2,068
|
23%
|
|
Chhattisgarh
|
583
|
661
|
14%
|
833
|
1,033
|
24%
|
|
Madhya Pradesh
|
987
|
1,028
|
4%
|
2,580
|
2,555
|
-1%
|
|
Gujarat
|
3,371
|
3,526
|
5%
|
5,156
|
5,233
|
2%
|
|
Dadra and Nagar Haveli and Daman and Diu
|
47
|
58
|
23%
|
92
|
80
|
-13%
|
|
Maharashtra
|
7,621
|
8,711
|
14%
|
10,952
|
12,397
|
13%
|
|
Karnataka
|
3,022
|
3,441
|
14%
|
5,704
|
6,062
|
6%
|
|
Goa
|
182
|
190
|
4%
|
324
|
321
|
-1%
|
|
Lakshadweep
|
0
|
1
|
478%
|
7
|
5
|
-35%
|
|
Kerala
|
1,040
|
1,209
|
16%
|
2,387
|
2,497
|
5%
|
|
Tamil Nadu
|
3,101
|
3,530
|
14%
|
4,829
|
6,014
|
25%
|
|
Puducherry
|
36
|
41
|
13%
|
99
|
106
|
7%
|
|
Andaman and Nicobar Islands
|
15
|
18
|
17%
|
41
|
44
|
5%
|
|
Telangana
|
1,448
|
1,636
|
13%
|
3,024
|
3,239
|
7%
|
|
Andhra Pradesh
|
1,048
|
1,240
|
18%
|
2,116
|
2,597
|
23%
|
|
Ladakh
|
14
|
8
|
-43%
|
34
|
24
|
-27%
|
|
Other Territory
|
16
|
17
|
8%
|
83
|
66
|
-20%
|
|
Grand Total
|
35,828
|
40,265
|
12%
|
65,597
|
72,999
|
11%
|
****
NB/KMN
(Release ID: 2022459)
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