GST collections breach landmark milestone of ₹2 lakh crore

Gross Revenue Records 12.4% y-o-y growth

Net Revenue (after refunds) stood at ₹1.92 lakh crore; 17.1% y-o-y growth

The Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST revenue for April 2024 stands at ₹1.92 lakh crore, reflecting an impressive 17.1% growth compared to the same period last year.

Positive Performance Across Components:

Breakdown of April 2024 Collections:

• Central Goods and Services Tax (CGST): ₹43,846 crore;
• State Goods and Services Tax (SGST): ₹53,538 crore;
• Integrated Goods and Services Tax (IGST): ₹99,623 crore, including ₹37,826 crore collected on imported goods;
• Cess: ₹13,260 crore, including ₹1,008 crore collected on imported goods.

Inter-Governmental Settlement: In the month of April, 2024, the central government settled ₹50,307 crore to CGST and ₹41,600 crore to SGST from the IGST collected. This translates to a total revenue of ₹94,153 crore for CGST and ₹95,138 crore for SGST for April, 2024 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 April, 2024 as compared to April, 2023. Table-2 shows the state-wise figures of post settlement GST revenue of each State for the month of April, 2024.

Chart: Trends in GST Collection

 

Table 1: State-wise growth of GST Revenues during April, 2024^[1]

 

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

April (Rs. in crore)

	Pre-Settlement SGST			Post-Settlement SGST[2]
State/UT	Apr-23	Apr-24	Growth	Apr-23	Apr-24	Growth
Jammu and Kashmir	394	362	-8%	918	953	4%
Himachal Pradesh	301	303	1%	622	666	7%
Punjab	860	999	16%	2,090	2,216	6%
Chandigarh	63	75	20%	214	227	6%
Uttarakhand	554	636	15%	856	917	7%
Haryana	1,871	2,172	16%	3,442	3,865	12%
Delhi	1,638	2,027	24%	3,313	4,093	24%
Rajasthan	1,741	1,889	9%	3,896	3,967	2%
Uttar Pradesh	3,476	4,121	19%	7,616	8,494	12%
Bihar	796	951	19%	2,345	2,688	15%
Sikkim	110	69	-37%	170	149	-12%
Arunachal Pradesh	122	101	-17%	252	234	-7%
Nagaland	36	41	14%	107	111	4%
Manipur	50	53	6%	164	133	-19%
Mizoram	41	59	46%	108	132	22%
Tripura	70	80	14%	164	198	21%
Meghalaya	69	76	9%	162	190	17%
Assam	608	735	21%	1,421	1,570	10%
West Bengal	2,416	2,640	9%	3,987	4,434	11%
Jharkhand	952	934	-2%	1,202	1,386	15%
Odisha	1,660	2,082	25%	2,359	2,996	27%
Chhattisgarh	880	929	6%	1,372	1,491	9%
Madhya Pradesh	1,287	1,520	18%	2,865	3,713	30%
Gujarat	4,065	4,538	12%	6,499	7,077	9%
Dadra and Nagar Haveli and Daman and Diu	62	75	22%	122	102	-16%
Maharashtra	10,392	11,729	13%	15,298	16,959	11%
Karnataka	4,298	4,715	10%	7,391	8,077	9%
Goa	237	283	19%	401	445	11%
Lakshadweep	1	0	-79%	18	5	-73%
Kerala	1,366	1,456	7%	2,986	3,050	2%
Tamil Nadu	3,682	4,066	10%	5,878	6,660	13%
Puducherry	42	54	28%	108	129	19%
Andaman and Nicobar Islands	46	32	-32%	78	88	13%
Telangana	1,823	2,063	13%	3,714	4,036	9%
Andhra Pradesh	1,348	1,621	20%	3,093	3,552	15%
Ladakh	34	36	7%	55	61	12%
Other Territory	22	16	-26%	86	77	-10%
Grand Total	47,412	53,538	13%	85,371	95,138	11%

GST revenue growth reaches record level, driven by higher domestic transactions and import collections after refunds. Gross GST collections in April 2024 reached a record high with year on year growth driven by domestic transactions and imports; after refunds, net GST revenue showed higher percentage growth. The statement sets out component figures for CGST, SGST, IGST (including import receipts) and Cess, describes the IGST apportioned to CGST and SGST under inter governmental settlement, and provides state wise pre and post settlement SGST figures reflecting varied jurisdictional growth rates.