Ministry of Finance

Rs.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 Rs.1.67 lakh crore, exceeding Rs.1.5 lakh crore for FY2022-23

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

Net revenue at Rs.1.51 lakh crore is up 13.6% for the month and up by 13% for the year at Rs.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 Rs.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 Rs.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 Rs.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 Rs.1.67 lakh crore, exceeding the Rs.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 Rs.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): Rs.31,785 crore

  • State Goods and Services Tax (SGST): Rs.39,615 crore

  • Integrated Goods and Services Tax (IGST): Rs.84,098 crore, including Rs.38,593 crore collected on imported goods

  • Cess: Rs.12,839 crore, including Rs.984 crore collected on imported goods

Inter-Governmental Settlement: The central government settled Rs.41,856 crore to CGST and Rs.35,953 crore to SGST from the IGST collected. This translates to a total revenue of Rs.73,641 crore for CGST and Rs.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%

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