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

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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 yearOverall, 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.

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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