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October 7, 2026
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Index of Services Production expansion proposes broader service-sector coverage through education, health, residential care, public administration and defence.
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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)

April 1, 2024

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Yearly 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 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.

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 ₹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 revenue net of refunds as of March 2024 for the current fiscal year is ₹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): ₹34,532 crore;
  • State Goods and Services Tax (SGST): ₹43,746 crore;
  • Integrated Goods and Services Tax (IGST): ₹87,947 crore, including ₹40,322 crore collected on imported goods;
  • Cess: ₹12,259 crore, including ₹996 crore collected on imported goods.

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

  • Central Goods and Services Tax (CGST): ₹3,75,710 crore;
  • State Goods and Services Tax (SGST): ₹4,71,195 crore;
  • Integrated Goods and Services Tax (IGST): ₹10,26,790 crore, including ₹4,83,086 crore collected on imported goods;
  • Cess: ₹1,44,554 crore, including ₹11,915 crore collected on imported goods.

Inter-Governmental 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.

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%

 

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