GST revenue collected during February 2024 gross Rs. 1,68,337 Cr

Gross Goods and Services Tax (GST) revenue collected for February 2024 is ?1,68,337 crore, marking a robust 12.5% increase compared to that in the same month in 2023. This growth was driven by a 13.9% rise in GST from domestic transactions and 8.5% increase in GST from import of goods. GST revenue net of refunds for February 2024 is ?1.51 lakh crore which is a growth of 13.6% over that for the same period last year.

Strong Consistent Performance in FY 2023-24: As of February 2024, the total gross GST collection for the current fiscal year stands at ?18.40 lakh crore, which is 11.7% higher than the collection for the same period in FY 2022-23. The average monthly gross collection for FY 2023-24 is ?1.67 lakh crore, exceeding the ?1.5 lakh crore collected in the previous year's corresponding period. GST revenue net of refunds as of February 2024 for the current fiscal year is ?16.36 lakh crore which is a growth of 13.0% over that for the same period last year. Overall, the GST revenue figures demonstrate continued growth momentum and positive performance.

Breakdown of February 2024 Collections:

• Central Goods and Services Tax (CGST): ?31,785 crore
• State Goods and Services Tax (SGST): ?39,615 crore
• Integrated Goods and Services Tax (IGST): ?84,098 crore, including ?38,593 crore collected on imported goods
• Cess: ?12,839 crore, including ?984 crore collected on imported goods

Inter-Governmental Settlement: The central government settled ?41,856 crore to CGST and ?35,953 crore to SGST from the IGST collected. This translates to a total revenue of ?73,641 crore for CGST and ?75,569 crore for SGST 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 February, 2024 as compared to February, 2023. Table-2 shows the state-wise figures of post settlement GST revenue of each State till the month of February, 2024.

Chart: Trends in GST Collection

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

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

April-February (Rs. in crore)

	Pre-Settlement SGST			Post-Settlement SGST[2]
State/UT	2022-23	2023-24	Growth	2022-23	2023-24	Growth
Jammu and Kashmir	2,133	2,680	26%	6,672	7,415	11%
Himachal Pradesh	2,150	2,371	10%	5,133	5,138	0%
Punjab	7,023	7,689	9%	17,810	20,240	14%
Chandigarh	577	626	9%	1,963	2,117	8%
Uttarakhand	4,365	4,934	13%	6,997	7,708	10%
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