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
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 |