GST collection crosses ₹1.60 lakh crore mark for the fourth time in FY 2023-24

₹9,92,508 crore gross GST collection for the first half of FY 2023-24 marks 11% Y-o-Y growth

Average monthly gross GST collection in FY 2023-24 at Rs. 1.65 lakh crore with 11% Y-o-Y growth

The gross GST revenue collected in the month of September, 2023 is ₹1,62,712 crore out of which CGST is ₹29,818 crore, SGST is ₹37,657 crore, IGST is ₹83,623 crore (including ₹41,145 crore collected on import of goods) and cess is ₹11,613 crore (including ₹881 crore collected on import of goods).

The government has settled ₹33,736 crore to CGST and ₹27,578 crore to SGST from IGST. The total revenue of Centre and the States in the month of September, 2023 after regular settlement is ₹63,555 crore for CGST and ₹65,235 crore for the SGST.

The revenues for the month of September, 2023 are 10% higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year. It is for the fourth time that the gross GST collection has crossed ₹1.60 lakh crore mark in FY 2023-24.

The gross GST collection for the first half of the FY 2023-24 ending September, 2023 [₹9,92,508 crore] is 11% higher than the gross GST collection in the first half of FY 2022-23 [₹8,93,334 crore]. The average monthly gross collection in FY 2023-24 is ₹1.65 lakh crore, which is 11% higher than average monthly gross collection for first half of FY 2022-23 where it was ₹1.49 lakh crore.

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 September 2023 as compared to September 2022. Table-2 shows the state-wise figures of post settlement GST revenue of each State till the month of September 2023.

Chart: Trends in GST Collection

State-wise growth of GST Revenues during September, 2023^[1]

 Table-2: SGST & SGST portion of IGST settled to States/UTs

April-September (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	1,138	1,515	33%	3,546	4,102	16%
Himachal Pradesh	1,150	1,314	14%	2,770	2,778	0%
Punjab	3,846	4,216	10%	9,215	10,869	18%
Chandigarh	300	335	12%	1,002	1,147	15%
Uttarakhand	2,401	2,589	8%	3,708	4,055	9%
Haryana	9,045	9,864	9%	14,948	17,161	15%
Delhi	6,872	7,639	11%	13,746	15,660	14%
Rajasthan	7,597	8,488	12%	16,461	19,129	16%
Uttar Pradesh	13,711	16,069	17%	32,540	36,109	11%
Bihar	3,567	4,092	15%	11,497	12,679	10%
Sikkim	153	267	75%	406	545	34%
Arunachal Pradesh	253	343	35%	807	1,013	26%
Nagaland	108	155	43%	474	539	14%
Manipur	143	177	24%	681	566	-17%
Mizoram	93	147	58%	419	491	17%
Tripura	206	258	25%	696	790	13%
Meghalaya	227	311	37%	711	860	21%
Assam	2,562	2,906	13%	5,965	7,181	20%
West Bengal	10,751	11,960	11%	18,786	20,949	12%
Jharkhand	3,661	4,462	22%	5,352	6,043	13%
Odisha	7,206	8,068	12%	9,096	10,869	19%
Chhattisgarh	3,720	4,136	11%	5,292	6,454	22%
Madhya Pradesh	5,221	6,324	21%	12,768	15,350	20%
Gujarat	18,628	20,839	12%	27,226	31,106	14%
Dadra and Nagar Haveli and Daman and Diu	330	315	-5%	566	508	-10%
Maharashtra	42,043	50,062	19%	62,010	72,741	17%
Karnataka	17,196	20,097	17%	31,076	36,162	16%
Goa	957	1,109	16%	1,678	1,940	16%
Lakshadweep	5	14	192%	16	60	283%
Kerala	6,014	6,986	16%	14,594	15,827	8%
Tamil Nadu	17,712	20,158	14%	28,345	31,778	12%
Puducherry	233	246	6%	580	727	25%
Andaman and Nicobar Islands	101	111	10%	247	271	10%
Telangana	8,184	9,790	20%	17,685	20,023	13%
Andhra Pradesh	6,298	7,028	12%	13,496	15,390	14%
Ladakh	63	98	55%	245	300	23%
Other Territory	78	118	52%	241	542	125%
Grand Total	2,01,771	2,32,606	15%	3,68,888	4,22,713	15%

^[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

Gross GST revenue growth signals sustained tax buoyancy with higher domestic transaction receipts and broader state settlements. The release reports gross GST revenue for September 2023 and the first half of FY 2023-24 with year-on-year growth, details composition into CGST, SGST, IGST and cess, records regular IGST settlement to Centre and States producing post-settlement CGST and SGST receipts, and provides state-wise monthly and April-September pre- and post-settlement SGST comparisons showing relative revenue performance across States and UTs.