The Ministry of Finance has recently announced significant developments in GST revenue collection during August 2023, showcasing a remarkable 11% year-on-year growth.
August 2023 GST Revenue Collection: The gross GST revenue collected in August 2023 stands at a substantial ₹1,59,069 crore. This amount encompasses CGST (₹28,328 crore), SGST (₹35,794 crore), IGST (₹83,251 crore, including ₹43,550 crore from import of goods), and Cess (₹11,695 crore, including ₹1,016 crore from import of goods).
Distribution and Settlement: The government has disbursed ₹37,581 crore to CGST and ₹31,408 crore to SGST from IGST. This cumulative revenue for both the Center and States amounts to ₹65,909 crore for CGST and ₹67,202 crore for SGST after standard settlement procedures.
YoY Growth in Revenue: A remarkable 11% increase in GST revenues has been recorded in August 2023 as compared to the same month in the previous year. Additionally, revenue generated from the import of goods has witnessed a 3% rise, while domestic transaction revenues, including import of services, have soared by 14%.
State-Wise Analysis: The article presents a comprehensive table showcasing the year-on-year growth of GST revenue across different states and union territories. Notable performers include Maharashtra with a remarkable 23% growth, Kerala with 13%, and Goa with a substantial 36% growth.
IGST Settlement Breakdown: The report also offers insights into the distribution of SGST and the SGST portion of IGST among various states and union territories. Maharashtra leads the pack with a notable ₹11,470 crore settlement, followed by Karnataka at ₹5,656 crore and Tamil Nadu at ₹5,513 crore.
Related Press Release is as follows:
Ministry of Finance
₹1,59,069 crore gross GST revenue collected during August 2023; records 11% Year-on-Year growth
GST Revenues from domestic transactions (including import of services) are 14% higher Year-on-Year
The government has settled ₹37,581 crore to CGST and ₹31,408 crore to SGST from IGST. The total revenue of Centre and the States in the month of August, 2023 after regular settlement is ₹65,909 crore for CGST and ₹67,202 crore for the SGST.
The revenues for the month of August, 2023 are 11% higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 3% higher and the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year.
The chart below shows trends in monthly gross GST revenues during the current year. The Table-1 shows the state-wise figures of GST collected in each State during the month of August, 2023 as compared to August, 2022 and Table-2 shows the SGST and SGST portion of the IGST received/settled to the States/UTs in August, 2023.
Table-1: State-wise Y-o-Y growth of GST Revenue in August, 2023[1] (Rs. In crore)
| State/UT | August’22 | August’23 | Growth(%) |
| Jammu and Kashmir | 434 | 523 | 21 |
| Himachal Pradesh | 709 | 725 | 2 |
| Punjab | 1651 | 1813 | 10 |
| Chandigarh | 179 | 192 | 7 |
| Uttarakhand | 1094 | 1353 | 24 |
| Haryana | 6772 | 7666 | 13 |
| Delhi | 4349 | 4620 | 6 |
| Rajasthan | 3341 | 3626 | 9 |
| Uttar Pradesh | 6781 | 7468 | 10 |
| Bihar | 1271 | 1379 | 9 |
| Sikkim | 247 | 320 | 29 |
| Arunachal Pradesh | 59 | 82 | 39 |
| Nagaland | 38 | 51 | 37 |
| Manipur | 35 | 40 | 17 |
| Mizoram | 28 | 32 | 13 |
| Tripura | 56 | 78 | 40 |
| Meghalaya | 147 | 189 | 28 |
| Assam | 1055 | 1148 | 9 |
| West Bengal | 4600 | 4800 | 4 |
| Jharkhand | 2595 | 2721 | 5 |
| Odisha | 3884 | 4408 | 14 |
| Chhattisgarh | 2442 | 2896 | 19 |
| Madhya Pradesh | 2814 | 3064 | 9 |
| Gujarat | 8684 | 9765 | 12 |
| Daman and Diu and Dadra and Nagar Haveli | 311
|
324
|
4
|
| Maharashtra | 18863 | 23282 | 23 |
| Karnataka | 9583 | 11116 | 16 |
| Goa | 376 | 509 | 36 |
| Lakshadweep | 0 | 3 | 853 |
| Kerala | 2036 | 2306 | 13 |
| Tamil Nadu | 8386 | 9475 | 13 |
| Puducherry | 200 | 231 | 15 |
| Andaman and Nicobar Islands | 16 | 21 | 35 |
| Telangana | 3871 | 4393 | 13 |
| Andhra Pradesh | 3173 | 3479 | 10 |
| Ladakh | 19 | 27 | 39 |
| Other Territory | 224 | 184 | (18) |
| Center Jurisdiction | 205 | 193 | (6) |
| Grand Total | 100526 | 114503 | 14 |
Table-2: Amount of SGST & SGST portion of IGST settled to States/UTs in August, 2023 (Rs. In crore)
| State/UT | SGST collection | SGST portion of IGST | Total |
| Jammu and Kashmir | 220 | 420 | 640 |
| Himachal Pradesh | 182 | 210 | 392 |
| Punjab | 603 | 1,201 | 1,804 |
| Chandigarh | 51 | 119 | 171 |
| Uttarakhand | 382 | 255 | 637 |
| Haryana | 1,585 | 1,094 | 2,679 |
| Delhi | 1,113 | 1,209 | 2,322 |
| Rajasthan | 1,265 | 1,730 | 2,994 |
| Uttar Pradesh | 2,378 | 3,165 | 5,544 |
| Bihar | 654 | 1,336 | 1,990 |
| Sikkim | 42 | 43 | 85 |
| Arunachal Pradesh | 40 | 100 | 140 |
| Nagaland | 23 | 59 | 82 |
| Manipur | 21 | 62 | 83 |
| Mizoram | 17 | 54 | 72 |
| Tripura | 36 | 84 | 120 |
| Meghalaya | 50 | 86 | 136 |
| Assam | 440 | 691 | 1,131 |
| West Bengal | 1,797 | 1,516 | 3,313 |
| Jharkhand | 802 | 120 | 922 |
| Odisha | 1,333 | 401 | 1,734 |
| Chhattisgarh | 710 | 488 | 1,198 |
| Madhya Pradesh | 978 | 1,447 | 2,425 |
| Gujarat | 3,211 | 1,723 | 4,933 |
| Dadra and Nagar Haveli and Daman and Diu | 51 | 40 | 90 |
| Maharashtra | 7,630 | 3,841 | 11,470 |
| Karnataka | 3,029 | 2,627 | 5,656 |
| Goa | 174 | 111 | 285 |
| Lakshadweep | 0 | 2 | 2 |
| Kerala | 1,035 | 1,437 | 2,472 |
| Tamil Nadu | 3,301 | 2,212 | 5,513 |
| Puducherry | 43 | 51 | 94 |
| Andaman and Nicobar Islands | 10 | 22 | 33 |
| Telangana | 1,439 | 1,746 | 3,186 |
| Andhra Pradesh | 1,122 | 1,481 | 2,603 |
| Ladakh | 14 | 43 | 57 |
| Other Territory | 13 | 182 | 195 |
| Grand Total | 35,794 | 31,408 | 67,202 |
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[1]Does not include GST on import of goods
