GST Collections February 2024: State Wise Break-up of GST Collections in February 2024
GST collections for February 2024 was released on the PIB portal on March 1, 2024. Rs.1,68,337 crore is the total GST collections for February 2024.
GST collections for February 2024 got released on the PIB portal on March 1, 2024. Rs.1,68,337 crore is the total GST collections for February 2024. It has dropped compared to the collections recorded in January 2024, which was the second-highest monthly collection ever since GST began!
In January 2024, GST collection rose to Rs.1,72,129 crore, up from Rs.1,64,882 crore in December 2023. Furthermore, this records a yearly revenue growth rate of 12.5% on a Y-o-Y compared to February 2023.
Break up of GST Collections for February 2024
GST collections for CGST work out to Rs.31,785 crore whereas for SGST is 39,615 crore. Also, the IGST collections amounted to Rs.84,098 crore and the Cess amounted to Rs.12,839 crore. IGST included Rs.38,593 crore and the cess covered Rs.984 crore, both collected towards imported goods.
The press release by the Finance Ministry indicated that the central government settled Rs.41,856 crore towards CGST and Rs.35,953 crore towards SGST from the IGST collected.
Accordingly, the total revenue for CGST is Rs.73,641 crore and for SGST is Rs.75,569 crore after regular settlement.
Analysis of the GST Collection for February 2024
The February 2024 GST collections saw a marginal decline from the previous month. The average monthly gross collection for FY 2023-24 is Rs.1.67 lakh crore, exceeding Rs.1.5 lakh crore for FY 2022-23.
The gross GST collection reached Rs.18.40 lakh crore for FY 2023-24, growing 11.7% Y-o-Y. The net revenue is at Rs.1.51 lakh crore and is up 13.6% for the month and up by 13% for the year at Rs.16.36 lakh crore.
This fiscal performance underscores the continued growth momentum and positive trajectory of GST collections in India, reflecting an increasingly robust economic environment.
The chart below shows the YoY comparison of the monthly GST collection in India for FY 2023-24.
Image credit- PIB
GST Collection for February 2024 State-wise
The PIB has released the state-wise GST collections for February 2024. Maharashtra has topped the list in terms of absolute numbers, followed by Karnataka, Gujarat, Tamil Nadu, Haryana, and Uttar Pradesh.
Regarding the highest YoY growth, Ladakh, Arunachal Pradesh, Andaman and Nicobar Islands have recorded more than 25% YoY growth rate compared to the same month in the last year.
Following is the list with the state-wise revenue for all states/UTs
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% |
Yearly Comparison of State-wise SGST settled before and after the Settlement
Below is the state-wise overview of the pre-settlement and post-settlement State GST figures-
Pre-Settlement SGST | Post-Settlement SGST | |||||
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% |
Haryana | 16,547 | 18,568 | 12% | 28,469 | 31,975 | 12% |
Delhi | 12,504 | 14,235 | 14% | 26,097 | 29,187 | 12% |
Rajasthan | 14,227 | 15,762 | 11% | 32,008 | 35,505 | 11% |
Uttar Pradesh | 24,900 | 29,560 | 19% | 60,572 | 69,782 | 15% |
Bihar | 6,678 | 7,478 | 12% | 21,319 | 24,231 | 14% |
Sikkim | 274 | 387 | 42% | 773 | 877 | 13% |
Arunachal Pradesh | 422 | 548 | 30% | 1,451 | 1,721 | 19% |
Nagaland | 203 | 270 | 33% | 884 | 955 | 8% |
Manipur | 288 | 310 | 8% | 1,318 | 1,011 | -23% |
Mizoram | 189 | 245 | 29% | 798 | 879 | 10% |
Tripura | 390 | 455 | 17% | 1,348 | 1,435 | 6% |
Meghalaya | 435 | 550 | 26% | 1,370 | 1,557 | 14% |
Assam | 4,694 | 5,413 | 15% | 11,524 | 13,347 | 16% |
West Bengal | 19,626 | 21,407 | 9% | 35,884 | 38,335 | 7% |
Jharkhand | 7,034 | 7,967 | 13% | 10,359 | 11,220 | 8% |
Odisha | 12,779 | 14,796 | 16% | 17,636 | 22,636 | 28% |
Chhattisgarh | 6,765 | 7,417 | 10% | 10,320 | 12,450 | 21% |
Madhya Pradesh | 9,893 | 11,865 | 20% | 25,483 | 30,386 | 19% |
Gujarat | 34,364 | 38,465 | 12% | 52,751 | 58,317 | 11% |
Dadra and Nagar Haveli and Daman and Diu | 581 | 599 | 3% | 1,093 | 1,006 | -8% |
Maharashtra | 77,909 | 91,584 | 18% | 1,18,392 | 1,34,593 | 14% |
Karnataka | 32,302 | 37,305 | 15% | 60,218 | 68,428 | 14% |
Goa | 1,830 | 2,137 | 17% | 3,270 | 3,752 | 15% |
Lakshadweep | 9 | 18 | 107% | 37 | 79 | 114% |
Kerala | 11,247 | 12,809 | 14% | 26,851 | 28,358 | 6% |
Tamil Nadu | 32,929 | 37,024 | 12% | 53,091 | 58,904 | 11% |
Puducherry | 426 | 467 | 10% | 1,069 | 1,255 | 17% |
Andaman and Nicobar Islands | 165 | 191 | 16% | 445 | 487 | 9% |
Telangana | 15,294 | 18,175 | 19% | 34,686 | 36,949 | 7% |
Andhra Pradesh | 11,462 | 12,695 | 11% | 26,121 | 28,873 | 11% |
Ladakh | 160 | 230 | 44% | 494 | 620 | 25% |
Other Territory | 165 | 218 | 32% | 542 | 1,043 | 93% |
The GST Collections February 2024 was released by the Ministry of Finance in a press report on the PIB website on 1st March 2024.
Also Read
GST Collection January 2024
GST Collection December 2023
GST Collection November 2023
GST Collection October 2023
GST Collection September 2023
GST Collection August 2023
GST Collection July 2023
GST Collection June 2023
GST Collection May 2023
GST Collection April 2023
GST Collection March 2023
GST Collection February 2023
Quick Summary
The February 2024 GST collections amount to Rs.1,68,337 crore, a decrease from the record-high January 2024 collections. The yearly revenue growth rate is 12.5% Y-o-Y. Central government settled CGST at Rs.73,641 crore and SGST at Rs.75,569 crore. Maharashtra tops state-wise collections. The total revenue for FY 2023-24 reflects a positive trajectory of GST collections in India.
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