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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

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.

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