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NEW DELHI, APR 01, 2024: GROSS Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at Rs.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 Rs.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. 20.14 lakh crore exceeding Rs.20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for this fiscal year stands at Rs.1.68 lakh crore, surpassing the previous year's average of Rs.1.5 lakh crore. GST revenue net of refunds as of March 2024 for the current fiscal year is Rs.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): Rs.34,532 crore;

- State Goods and Services Tax (SGST): Rs.43,746 crore;

- Integrated Goods and Services Tax (IGST): Rs.87,947 crore, including Rs.40,322 crore collected on imported goods;

- Cess: Rs.12,259 crore, including Rs.996 crore collected on imported goods.

Similar positive trends are observed in the entire FY 2023-24 collections:

- Central Goods and Services Tax (CGST): Rs.3,75,710 crore;

- State Goods and Services Tax (SGST): Rs.4,71,195 crore;

- Integrated Goods and Services Tax (IGST): Rs.10,26,790 crore, including Rs.4,83,086 crore collected on imported goods;

- Cess: Rs.1,44,554 crore, including Rs.11,915 crore collected on imported goods.

Inter-Governmental Settlement: In the month of March, 2024, the Central Government settled Rs.43,264 crore to CGST and Rs.37,704 crore to SGST from the IGST collected. This translates to a total revenue of Rs.77,796 crore for CGST and Rs.81,450 crore for SGST for March, 2024 after regular settlement. For the FY 2023-24, the central government settled Rs.4,87,039 crore to CGST and Rs.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%

[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

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GST collections leap to Rs 1.78 lakh crore in March month

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