The Ministry of Finance has released the latest figures for Goods and Services Tax (GST) revenue collection for the month of September 2023. The data reveals a significant milestone in revenue collection, demonstrating the robustness of India’s taxation system.
September 2023 GST Revenue
In September 2023, the gross GST revenue collected reached an impressive ₹1,62,712 crore. This amount includes contributions from various GST components:
- CGST (Central Goods and Services Tax): ₹29,818 crore
- SGST (State Goods and Services Tax): ₹37,657 crore
- IGST (Integrated Goods and Services Tax): ₹83,623 crore (including ₹41,145 crore collected on the import of goods)
- Cess: ₹11,613 crore (including ₹881 crore collected on the import of goods)
The government’s distribution of this revenue includes ₹33,736 crore to CGST and ₹27,578 crore to SGST from IGST. After the regular settlement process, the total revenue collected for the Centre and the States in September 2023 stands at ₹63,555 crore for CGST and ₹65,235 crore for SGST.
Impressive Year-on-Year Growth
What makes this achievement even more noteworthy is the year-on-year growth in GST revenue. The revenues for September 2023 are 10% higher than the GST revenues in the same month the previous year. Notably, revenues from domestic transactions, including the import of services, have seen a substantial 14% increase compared to the previous year.
This marks the fourth time in the fiscal year 2023-24 that gross GST collection has crossed the ₹1.60 lakh crore mark, showcasing consistent growth and revenue generation.
Chart: Trends in GST Collection
First-Half Performance
The performance of GST revenue collection for the first half of the fiscal year 2023-24, ending in September 2023, is equally impressive. The gross GST collection for this period reached ₹9,92,508 crore, reflecting an 11% increase compared to the first half of the previous fiscal year (FY 2022-23), which recorded ₹8,93,334 crore in collection.
The average monthly gross collection for FY 2023-24 is ₹1.65 lakh crore, signifying an 11% growth compared to the same period in FY 2022-23 when it stood at ₹1.49 lakh crore.
State-wise Growth
The Ministry of Finance provides a detailed breakdown of GST revenues for various states and union territories. The table below shows the growth percentages for GST revenues in different regions during September 2023 compared to September 2022.
Table-1:
State-wise growth of GST Revenues during September, 2023
| State/UT | Sep-22 | Sep-23 | Growth (%) |
| Jammu and Kashmir | 428 | 563 | 32% |
| Himachal Pradesh | 712 | 784 | 10% |
| Punjab | 1,710 | 1,866 | 9% |
| Chandigarh | 206 | 219 | 6% |
| Uttarakhand | 1,300 | 1,392 | 7% |
| Haryana | 7,403 | 8,009 | 8% |
| Delhi | 4,741 | 4,849 | 2% |
| Rajasthan | 3,307 | 3,869 | 17% |
| Uttar Pradesh | 7,004 | 7,844 | 12% |
| Bihar | 1,466 | 1,397 | -5% |
| Sikkim | 285 | 315 | 11% |
| Arunachal Pradesh | 64 | 81 | 27% |
| Nagaland | 49 | 52 | 5% |
| Manipur | 38 | 56 | 47% |
| Mizoram | 24 | 27 | 14% |
| Tripura | 65 | 73 | 13% |
| Meghalaya | 161 | 165 | 2% |
| Assam | 1,157 | 1,175 | 2% |
| West Bengal | 4,804 | 4,940 | 3% |
| Jharkhand | 2,463 | 2,623 | 7% |
| Odisha | 3,765 | 4,249 | 13% |
| Chhattisgarh | 2,269 | 2,684 | 18% |
| Madhya Pradesh | 2,711 | 3,118 | 15% |
| Gujarat | 9,020 | 10,129 | 12% |
| Dadra and Nagar Haveli and Daman & Diu | 312 | 350 | 12% |
| Maharashtra | 21,403 | 25,137 | 17% |
| Karnataka | 9,760 | 11,693 | 20% |
| Goa | 429 | 497 | 16% |
| Lakshadweep | 3 | 2 | -45% |
| Kerala | 2,246 | 2,505 | 12% |
| Tamil Nadu | 8,637 | 10,481 | 21% |
| Puducherry | 188 | 197 | 5% |
| Andaman and Nicobar Islands | 33 | 23 | -30% |
| Telangana | 3,915 | 5,226 | 33% |
| Andhra Pradesh | 3,132 | 3,658 | 17% |
| Ladakh | 19 | 35 | 81% |
| Other Territory | 202 | 207 | 2% |
| Center Jurisdiction | 182 | 196 | 8% |
| Grand Total | 1,05,615 | 1,20,686 | 14% |
Additionally, Table-2 offers insights into the pre-settlement and post-settlement SGST and IGST revenues for each state and union territory from April to September.
Table-2:
SGST & SGST portion of IGST settled to States/UTs April-September (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 | 1,138 | 1,515 | 33% | 3,546 | 4,102 | 16% |
| Himachal Pradesh | 1,150 | 1,314 | 14% | 2,770 | 2,778 | 0% |
| Punjab | 3,846 | 4,216 | 10% | 9,215 | 10,869 | 18% |
| Chandigarh | 300 | 335 | 12% | 1,002 | 1,147 | 15% |
| Uttarakhand | 2,401 | 2,589 | 8% | 3,708 | 4,055 | 9% |
| Haryana | 9,045 | 9,864 | 9% | 14,948 | 17,161 | 15% |
| Delhi | 6,872 | 7,639 | 11% | 13,746 | 15,660 | 14% |
| Rajasthan | 7,597 | 8,488 | 12% | 16,461 | 19,129 | 16% |
| Uttar Pradesh | 13,711 | 16,069 | 17% | 32,540 | 36,109 | 11% |
| Bihar | 3,567 | 4,092 | 15% | 11,497 | 12,679 | 10% |
| Sikkim | 153 | 267 | 75% | 406 | 545 | 34% |
| Arunachal Pradesh | 253 | 343 | 35% | 807 | 1,013 | 26% |
| Nagaland | 108 | 155 | 43% | 474 | 539 | 14% |
| Manipur | 143 | 177 | 24% | 681 | 566 | -17% |
| Mizoram | 93 | 147 | 58% | 419 | 491 | 17% |
| Tripura | 206 | 258 | 25% | 696 | 790 | 13% |
| Meghalaya | 227 | 311 | 37% | 711 | 860 | 21% |
| Assam | 2,562 | 2,906 | 13% | 5,965 | 7,181 | 20% |
| West Bengal | 10,751 | 11,960 | 11% | 18,786 | 20,949 | 12% |
| Jharkhand | 3,661 | 4,462 | 22% | 5,352 | 6,043 | 13% |
| Odisha | 7,206 | 8,068 | 12% | 9,096 | 10,869 | 19% |
| Chhattisgarh | 3,720 | 4,136 | 11% | 5,292 | 6,454 | 22% |
| Madhya Pradesh | 5,221 | 6,324 | 21% | 12,768 | 15,350 | 20% |
| Gujarat | 18,628 | 20,839 | 12% | 27,226 | 31,106 | 14% |
| Dadra and Nagar Haveli and Daman and Diu | 330 | 315 | -5% | 566 | 508 | -10% |
| Maharashtra | 42,043 | 50,062 | 19% | 62,010 | 72,741 | 17% |
| Karnataka | 17,196 | 20,097 | 17% | 31,076 | 36,162 | 16% |
| Goa | 957 | 1,109 | 16% | 1,678 | 1,940 | 16% |
| Lakshadweep | 5 | 14 | 192% | 16 | 60 | 283% |
| Kerala | 6,014 | 6,986 | 16% | 14,594 | 15,827 | 8% |
| Tamil Nadu | 17,712 | 20,158 | 14% | 28,345 | 31,778 | 12% |
| Puducherry | 233 | 246 | 6% | 580 | 727 | 25% |
| Andaman and Nicobar Islands | 101 | 111 | 10% | 247 | 271 | 10% |
| Telangana | 8,184 | 9,790 | 20% | 17,685 | 20,023 | 13% |
| Andhra Pradesh | 6,298 | 7,028 | 12% | 13,496 | 15,390 | 14% |
| Ladakh | 63 | 98 | 55% | 245 | 300 | 23% |
| Other Territory | 78 | 118 | 52% | 241 | 542 | 125% |
| Grand Total | 2,01,771 | 2,32,606 | 15% | 3,68,888 | 4,22,713 | 15% |
Conclusion
The Ministry of Finance’s report on GST revenue collection for September 2023 underscores the resilience of India’s taxation system. With impressive year-on-year growth and consistent revenue generation, the GST framework continues to contribute significantly to the nation’s economic stability and development. The data also showcases the effective collaboration between the Centre and the States in revenue distribution, ensuring a balanced financial ecosystem.
