GST Collection April 2024

 GST Collection April 2021 to April 2024

Analysis of GST Collection

Table of Content:

1. GST Collections Tren
2. Breakdown of April 2024 Collections
3. Total GST Collections

GST has emerged as one of the important source of revenue for both state and central government in India. This notes aims to provide in depth information and analyze on GST collection on the bases of date received from the government report. The above presented chart offers a comprehensive view on the GST collection since April 2021. The GST  collection data shows a significant upward growth from April 2021 to 2024. GST collection reached to high if Rs. 2.1 lakh crore in April 2024. This increased was possible because of increase on domestic transaction and imports. 

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.

 State-wise growth of GST Revenues during April, 2024

State/UT	Apr-23	Apr-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%

 

Analysis

• High Performers: States like Punjab, Haryana, Delhi, Assam, and Bihar have recorded significant growth, reflecting strong economic activity.
• Declining States: Jammu and Kashmir, Sikkim, Arunachal Pradesh, and a few others have shown a decline in GST collections, possibly due to local economic challenges or reduced trade activities.

Impact of GST Collection on Indian Economy

REVENUE COLLECTION IN THE LAST 5(FIVE) YEARS

(IN crores)

Year	GST	Non-GST	Total	Growth%
2017-18	500.00	785.46	1285.46	-
2018-19	878.96	645.20	1524.16	18.57
2019-20	1011.24	584.63	1595.87	4.70
2020-21	994.76	742.90	1737.66	8.88
2021-22	1280.87	738.13	2019.00	16.19

References

1)https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2019262

2) https://dea.gov.in/monthly-economic-report-table

3) https://meggst.gov.in/RevenueCollection.pdf

GST#economics#2024#April#revenue#collection

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