1,68,337 crore gross GST revenue collected during February 2024; records Year-on-Year (Y-o-Y) growth of 12.5%
GST
Dated:- 1-3-2024
Average monthly gross collection for FY2023-24 is ₹1.67 lakh crore, exceeding ₹1.5 lakh for FY2022-23
Gross GST collection reaches ₹18.40 lakh crore for FY2023-24, grows 11.7% Y-o-Y
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
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
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t 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.
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
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ebruary (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
1,55
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