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GST Collections At All-Time High: Rs 2.10 Lakh Crore In April, Up 12.4 Per Cent YoY

GST Collections in April breach landmark milestone of Rs 2 lakh crore; gross revenue records 12.4 per cent YoY growth

GST Collections in April: India's Goods and Services Tax (GST) collections reached a record high in April 2024, amounting to Rs 2.10 lakh crore in gross terms, according to a statement from the finance ministry on May 1. This marks a 12.4 per cent increase compared to the same period last year, with domestic transactions seeing a 13.4 per cent rise and imports up by 8.3 per cent.

After accounting for refunds, the net GST revenue for April 2024 stands at Rs 1.92 lakh crore, reflecting a significant growth of 17.1 per cent compared to April 2023. The ministry highlighted the positive trend in GST collections over the years, with monthly collections starting below Rs 1 lakh crore in 2017-18, the tax's first year, and rising to an average of Rs 1.51 lakh crore in 2022-23.

April's gross collections also represented a 17.81 per cent increase compared to March 2024, when collections stood at Rs 1.78 lakh crore. This strong performance underscores the resilience and expansion of India's economy.

"In the month of April, 2024, the central government settled Rs 50,307 crore to central GST and Rs 41,600 crore to state GST from the integrated GST collected. This translates to a total revenue of Rs 94,153 crore for central GST and Rs 95,138 crore for state GST for April 2024 after regular settlement," the ministry said.

"The unprecedented milestone of surpassing Rs 2 lakh crore in GST collections for April 2024 underscores the steadfast resilience of tax system amidst evolving economic landscapes. Every component of GST collection has contributed significantly. The CGST, SGST, IGST, and Cess segments have all demonstrated positive performance, further solidifying our fiscal position. The concerted efforts of the GST officials including zero tolerance for non-filers, coupled with rigorous measures to combat fake invoicing and the registrations has significantly bolstered GST collections in the state's coffers," said Saurabh Agarwal, Tax Partner, EY.

Trends in GST Collections

GST Collections At All-Time High: Rs 2.10 Lakh Crore In April, Up 12.4 Per Cent YoY

Here's a breakdown of April 2024 collections:

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

Source: PIB

State-wise growth of GST revenues 

State/UT

Mar-23

Mar-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

 

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