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     New Delhi, June 1, 2024: The gross Goods and Services Tax (GST) revenue of India for the month of May 2024 stood at ₹1.73 lakh crore.

     This represents a 10 per cent year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%), Finance Ministry sources said today.

     After accounting for refunds, the net GST revenue for May 2024 stands at ₹1.44 lakh crore, reflecting a growth of 6.9% compared to the same period last year, the sources added.

Breakdown of May 2024 Collections:

  • Central Goods and Services Tax (CGST): ₹32,409 crore;
  • State Goods and Services Tax (SGST): ₹40,265 crore;
  • Integrated Goods and Services Tax (IGST): ₹87,781 crore, including ₹39,879 crore collected on imported goods;
  • Cess: ₹12,284 crore, including ₹1,076 crore collected on imported goods.

     The gross GST collections in the financial year 2024-25 till May 2024 stood at ₹3.83 lakh crore. This represents an impressive 11.3% year-on-year growth, driven by a strong increase in domestic transactions (up 14.2%) and marginal increase in imports (up 1.4%).

     After accounting for refunds, the net GST revenue in the FY 2024-25 till May 2024 stands at ₹3.36 lakh crore, reflecting a growth of 11.6% compared to the same period last year.

Breakdown of collections in the FY 2024-25 till May, 2024:

  • Central Goods and Services Tax (CGST): ₹76,255 crore;
  • State Goods and Services Tax (SGST): ₹93,804 crore;
  • Integrated Goods and Services Tax (IGST): ₹1,87,404 crore, including ₹77,706 crore collected on imported goods;
  • Cess: ₹25,544 crore, including ₹2,084 crore collected on imported goods.

Inter-Governmental Settlement:

     In the month of May, 2024, the Central Government settled ₹38,519 crore to CGST and ₹32,733 crore to SGST from the net IGST collected of ₹67,204 crore. This translates to a total revenue of ₹70,928 crore for CGST and ₹72,999 crore for SGST in May, 2024, after regular settlement, the sources said.

     Similarly, in the FY 2024-25 till May 2024 the Central Government settled ₹88,827 crore to CGST and ₹74,333 crore to SGST from the net IGST collected of ₹154,671 crore. This translates to a total revenue of ₹1,65,081 crore for CGST and ₹1,68,137 crore for SGST in FY 2024-25 till May 2024 after regular settlement.

     The chart below shows trends in monthly gross GST revenues during the current year. Table-1 shows the state-wise figures of GST collected in each State during the month of May, 2024 as compared to May, 2023. Table-2 shows the state-wise figures of post settlement GST revenue of each State for the month of May, 2024.

Chart: Trends in GST Collection

Table 1: State-wise growth of GST Revenues during May, 2024[1]

State/UTMay-23May-24Growth (%)
Jammu and Kashmir422   52524%
Himachal Pradesh828  8381%
Punjab1,744  2,19026%
Chandigarh259   237-9%
Uttarakhand1,431  1,83728%
Haryana7,250 9,28928%
Delhi5,1477,51246%
Rajasthan3,924  4,41413%
Uttar Pradesh7,468  9,09122%
Bihar1,3661,52111%
Sikkim334   312-7%
Arunachal Pradesh120     98-18%
Nagaland   52     45-14%
Manipur   39     5848%
Mizoram   38     393%
Tripura   75     73-3%
Meghalaya 214   172-20%
Assam 1,217  1,2281%
West Bengal5,162  5,3774%
Jharkhand2,584 2,7004%
Odisha4,398  5,02714%
Chhattisgarh2,525  2,85313%
Madhya Pradesh3,381 3,4021%
Gujarat 9,80011,32516%
Dadra and Nagar Haveli and Daman & Diu324   37516%
Maharashtra23,53626,85414%
Karnataka 10,31711,88915%
Goa523   519-1%
Lakshadweep     21-39%
Kerala2,297  2,59413%
Tamil Nadu8,953  9,7689%
Puducherry202  23918%
Andaman and Nicobar Islands   31     3718%
Telangana4,507 4,98611%
Andhra Pradesh3,373 3,89015%
Ladakh   26      15-41%
Other Territory201  2073%
Center Jurisdiction 187   24530%
Grand Total       1,14,2611,31,78315%

Table-2: SGST & SGST portion of IGST settled to States/UTs in

May (Rs. in crore)

 Pre-Settlement SGSTPost-Settlement SGST[2]
State/UTMay-23May-24GrowthMay-23May-24Growth
Jammu and Kashmir  178 22526%  561 65917%
Himachal Pradesh 189  187-1% 435 4360%
Punjab 638 72414%1,6041,7408%
Chandigarh48 5412% 168  1786%
Uttarakhand  411 47616% 666  7147%
Haryana 1,5441,95026%2,5683,02518%
Delhi 1,295 1,47714%2,5392,6304%
Rajasthan1,3861,5069%3,020 3,31510%
Uttar Pradesh2,3842,73615%5,6876,84820%
Bihar 623 69511%2,0582,29812%
Sikkim 3126-15%8466-21%
Arunachal Pradesh60 45-26%  187  152-19%
Nagaland 21 19-9%83 79-4%
Manipur233235% 77 10739%
Mizoram 21223% 79 77-3%
Tripura4036-9%  135 1382%
Meghalaya 56 52-7%  158  154-3%
Assam 488  5115% 1,1701,2809%
West Bengal 1,9522,0304%3,4073,6286%
Jharkhand 653 73513% 976 1,13516%
Odisha 1,255 1,41513% 1,6762,06823%
Chhattisgarh 583 66114% 8331,03324%
Madhya Pradesh 9871,0284%2,580 2,555-1%
Gujarat 3,3713,5265% 5,1565,2332%
Dadra and Nagar Haveli and Daman and Diu 47 5823%9280-13%
Maharashtra 7,621 8,71114%10,95212,39713%
Karnataka3,0223,44114%5,7046,0626%
Goa 182 1904% 324 321-1%
Lakshadweep   0    1478%   7   5-35%
Kerala1,0401,20916%2,3872,4975%
Tamil Nadu 3,1013,53014%4,8296,01425%
Puducherry36 4113%99 1067%
Andaman and Nicobar Islands 15 1817% 41445%
Telangana1,4481,63613%3,0243,2397%
Andhra Pradesh1,0481,24018% 2,1162,59723%
Ladakh 14   8-43%3424-27%
Other Territory 16 178%8366-20%
Grand Total35,82840,26512%65,59772,99911%
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