Second highest monthly Gross GST Revenue collection in March at 1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis)
GST
Dated:- 1-4-2024
Yearly gross revenue ₹20.14 lakh crore; 11.7% growth (13.4% on net basis)
\nGross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹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 ₹1.65 lakh crore which is growth of 18.4% over same period last year.
\nStrong Consistent Performance in FY 2023-24: FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.14 lakh crore exceeding ₹20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for this fiscal year stands at ₹1.68 lakh crore, surpassing the previous year's average of ₹1.5 lakh crore. GST revenu<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n vernmental Settlement: In the month of March, 2024, the Central Government settled ₹43,264 crore to CGST and ₹37,704 crore to SGST from the IGST collected. This translates to a total revenue of ₹77,796 crore for CGST and ₹81,450 crore for SGST for March, 2024 after regular settlement. For the FY 2023-24, the central government settled ₹4,87,039 crore to CGST and ₹4,12,028 crore to SGST from the IGST collected. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 3,532 = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Second highest monthly Gross GST Revenue collection in March at 1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis) GSTDated:- 1-4-2024Yearly gross revenue ₹20.14 lakh crore; 11.7% growth (13.4% on net basis) Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹1.78 lakh crore, with … Continue reading “Second highest monthly Gross GST Revenue collection in March at 1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis)”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-69387","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69387"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69387\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe 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.
\nChart: Trends in GST Collection
\nTable 1: State-wise growth of GST Revenues during March, 2024[1]
\nState\/UT
\nMar-23
\nMar-24
\nGrowth (%)
\nJammu and Kashmir
\n 477
\n 601
\n26%
\nHimachal Pradesh
\n 739
\n 852
\n15%
\nPunjab
\n 1,735\n<\/p>\n
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\n 4,082
\n16%
\nLadakh
\n 23
\n 41
\n82%
\nOther Territory
\n 249
\n 196
\n-21%
\nCenter Jurisdiction
\n 142
\n 220
\n55%
\nGrand Total
\n 1,16,659
\n 1,37,166
\n18%
\nTable-2: SGST & SGST portion of IGST settled to States\/UTs April-March (Rs. in crore)
\nPre-Settlement SGST
\nPost-Settlement SGST[2]
\nState\/UT
\n2022-23
\n2023-24
\nGrowth
\n2022-23
\n2023-24
\nGrowth
\nJammu and Kashmir
\n 2,350
\n 2,945
\n25%
\n 7,272
\n 8,093
\n11%
\nHimachal Pradesh
\n 2,346
\n 2,597
\n11%
\n 5,543
\n 5,584
\n1%
\nPunjab
\n 7,660
\n 8,406
\n10%
\n 19,422
\n 22,106
\n14%
\nChandigarh
\n 629
\n 689
\n10%
\n 2,124
\n 2,314
\n9%
\nUttarakhand
\n 4,787
\n 5,415
\n13%
\n 7,554
\n 8,403
\n11%
\nHaryana
\n 18,143
\n 20,334
\n12%
\n 30,952
\n 34,901
\n13%
\nDelhi
\n 13,619
\n 15,647
\n15%
\n 28,284
\n 32,165
\n14%
\nRajasthan
\n 15,636
\n 17,531
\n12%
\n 35,014
\n 39,140
\n12%
\nUttar Pradesh
\n 27,366
\n 32,534
\n19%
\n 66,052
\n 76,649
\n16%
\nBihar
\n 7,543
\n 8,535
\n13%
\n 23,384
\n 27,622
\n18%
\nSikkim
\n 301
\n 420
\n39%
\n 839
\n 951
\n13%
\nArunachal Pradesh
\n 494
\n 628
\n27%
\n 1,623
\n 1,902
\n17<\/p>\n
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