India’s Feb 2024 GST revenue grew 12.5% YoY to Rs 1.68 lakh crore. Total gross collections for FY23-24 have now reached Rs 18.40 lakh crore.
On March 1, 2024, the Press Information Bureau (PIB) portal published the Goods and Services Tax (GST) collection data for February 2024, reporting a total of Rs. 1,68,337 crore. This figure represents a decrease from January 2024’s collection of Rs. 1,72,129 crore, which marked the second-highest monthly total since GST implementation. Despite the monthly dip, the February 2024 collections showed a significant year-over-year revenue increase of 12.5% when compared to February 2023, following an increase from Rs. 1,64,882 crore in December 2023.
February 2024 GST Collection Distribution
The total GST collection for February 2024 was divided as follows: Central GST (CGST) stood at Rs. 31,785 crore, while State GST (SGST) reached Rs. 39,615 crore. Integrated GST (IGST) amounted to Rs. 84,098 crore, which included Rs. 38,593 crore from imported goods. Additionally, cess collections totaled Rs. 12,839 crore, with Rs. 984 crore originating from imported goods. Following the Finance Ministry’s press release, the central government allocated Rs. 41,856 crore to CGST and Rs. 35,953 crore to SGST from the collected IGST. After these standard settlements, the combined revenue for CGST amounted to Rs. 73,641 crore, and for SGST, it was Rs. 75,569 crore.
Analysis of February 2024 GST Figures
While February 2024 saw a slight monthly dip in GST collections, the overall financial year 2023-24 demonstrates strong growth. The average monthly gross collection for this fiscal year stands at Rs. 1.67 lakh crore, surpassing the Rs. 1.5 lakh crore average of FY 2022-23. Total gross GST collections for FY 2023-24 reached Rs. 18.40 lakh crore, indicating an 11.7% year-over-year increase. Net revenue for the month was Rs. 1.51 lakh crore, marking a 13.6% rise, and for the entire fiscal year, net revenue increased by 13% to Rs. 16.36 lakh crore. This consistent financial performance highlights India’s ongoing economic expansion and the positive trend in GST revenue generation.
State-wise GST Collections for February 2024
The Press Information Bureau has published detailed state-wise GST collection figures for February 2024. Maharashtra led in absolute collection value, followed by Karnataka, Gujarat, Tamil Nadu, Haryana, and Uttar Pradesh. Notably, Ladakh, Arunachal Pradesh, and the Andaman and Nicobar Islands registered the highest year-over-year growth rates, all exceeding 25% compared to February of the previous year. The following table presents the revenue details for all states and Union Territories.
| State/UT | Feb-23 | Feb-24 | Growth (%) |
|---|---|---|---|
| Jammu and Kashmir | 434 | 532 | 23% |
| Himachal Pradesh | 691 | 746 | 8% |
| Punjab | 1,651 | 1,955 | 18% |
| Chandigarh | 188 | 211 | 12% |
| Uttarakhand | 1,405 | 1,525 | 9% |
| Haryana | 7,310 | 8,269 | 13% |
| Delhi | 4,769 | 5,544 | 16% |
| Rajasthan | 3,941 | 4,211 | 7% |
| Uttar Pradesh | 7,431 | 8,054 | 8% |
| Bihar | 1,499 | 1,491 | -1% |
| Sikkim | 265 | 299 | 13% |
| Arunachal Pradesh | 78 | 101 | 29% |
| Nagaland | 54 | 51 | -5% |
| Manipur | 64 | 56 | -13% |
| Mizoram | 58 | 49 | -14% |
| Tripura | 79 | 85 | 8% |
| Meghalaya | 189 | 193 | 2% |
| Assam | 1,111 | 1,390 | 25% |
| West Bengal | 4,955 | 5,357 | 8% |
| Jharkhand | 2,962 | 2,933 | -1% |
| Odisha | 4,519 | 5,136 | 14% |
| Chhattisgarh | 3,009 | 3,124 | 4% |
| Madhya Pradesh | 3,235 | 3,572 | 10% |
| Gujarat | 9,574 | 11,029 | 15% |
| Dadra and Nagar Haveli and Daman & Diu | 283 | 355 | 25% |
| Maharashtra | 22,349 | 27,065 | 21% |
| Karnataka | 10,809 | 12,815 | 19% |
| Goa | 493 | 581 | 18% |
| Lakshadweep | 3 | 2 | -36% |
| Kerala | 2,326 | 2,688 | 16% |
| Tamil Nadu | 8,774 | 9,713 | 11% |
| Puducherry | 188 | 231 | 23% |
| Andaman and Nicobar Islands | 31 | 39 | 28% |
| Telangana | 4,424 | 5,211 | 18% |
| Andhra Pradesh | 3,557 | 3,678 | 3% |
| Ladakh | 24 | 35 | 43% |
| Other Territory | 211 | 204 | -3% |
| Center Jurisdiction | 154 | 232 | 51% |
Annual State GST (SGST) Comparison: Pre and Post-Settlement
A comprehensive state-wise review of State GST (SGST) figures, both before and after settlement, is provided below.
| Pre-Settlement SGST | Post-Settlement SGST |
|---|---|
| — | — |
| State/UT | 2022-23 |
| Jammu and Kashmir | 2,133 |
| Himachal Pradesh | 2,150 |
| Punjab | 7,023 |
| Chandigarh | 577 |
| Uttarakhand | 4,365 |
| Haryana | 16,547 |
| Delhi | 12,504 |
| Rajasthan | 14,227 |
| Uttar Pradesh | 24,900 |
| Bihar | 6,678 |
| Sikkim | 274 |
| Arunachal Pradesh | 422 |
| Nagaland | 203 |
| Manipur | 288 |
| Mizoram | 189 |
| Tripura | 390 |
| Meghalaya | 435 |
| Assam | 4,694 |
| West Bengal | 19,626 |
| Jharkhand | 7,034 |
| Odisha | 12,779 |
| Chhattisgarh | 6,765 |
| Madhya Pradesh | 9,893 |
| Gujarat | 34,364 |
| Dadra and Nagar Haveli and Daman and Diu | 581 |
| Maharashtra | 77,909 |
| Karnataka | 32,302 |
| Goa | 1,830 |
| Lakshadweep | 9 |
| Kerala | 11,247 |
| Tamil Nadu | 32,929 |
| Puducherry | 426 |
| Andaman and Nicobar Islands | 165 |
| Telangana | 15,294 |
| Andhra Pradesh | 11,462 |
| Ladakh | 160 |
| Other Territory | 165 |
The GST Collections February 2024 was released by the Ministry of Finance in a press report on the PIB website on 1st March 2024.
