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GST revenue collection for April 2024 highest ever at Rs 2.10 lakh crore

GST expert by GST expert
May 1, 2024
in GST news
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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; 15.5% 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 15.5% 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]

State/UT Apr-23 Apr-24 Growth (%)
Jammu and Kashmir 803 789 -2%
Himachal Pradesh 957 1,015 6%
Punjab 2,316 2,796 21%
Chandigarh 255 313 23%
Uttarakhand 2,148 2,239 4%
Haryana 10,035 12,168 21%
Delhi 6,320 7,772 23%
Rajasthan 4,785 5,558 16%
Uttar Pradesh 10,320 12,290 19%
Bihar 1,625 1,992 23%
Sikkim 426  403 -5%
Arunachal Pradesh 238  200 -16%
Nagaland 88  86 -3%
Manipur 91 104 15%
Mizoram 71 108 52%
Tripura 133 161 20%
Meghalaya 239  234 -2%
Assam 1,513 1,895 25%
West Bengal 6,447 7,293 13%
Jharkhand 3,701 3,829 3%
Odisha 5,036 5,902 17%
Chhattisgarh 3,508 4,001 14%
Madhya Pradesh 4,267 4,728 11%
Gujarat 11,721 13,301 13%
Dadra and Nagar Haveli and Daman & Diu 399 447 12%
Maharashtra 33,196 37,671 13%
Karnataka 14,593 15,978 9%
Goa 620 765 23%
Lakshadweep 3 1 -57%
Kerala 3,010      3,272 9%
Tamil Nadu 11,559    12,210 6%
Puducherry 218 247 13%
Andaman and Nicobar Islands 92  65 -30%
Telangana 5,622     6,236 11%
Andhra Pradesh 4,329     4,850 12%
Ladakh 68  70 3%
Other Territory 220 225 2%
Center Jurisdiction 187 221 18%
Grand Total 1,51,162 1,71,433 13%

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%

[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

 

To read the Press Release CLICK ME.

 

Connect with us on: LinkedIn, Telegram, Instagram, Facebook, Twitter and Youtube for regular Updates.

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