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GST - February collections top Rs 1.68 lakh crore

Published: Mar 01, 2024

By TIOL News Service

NEW DELHI, MAR 01, 2024: 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

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

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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