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India GST Revenue: February 2023 Analysis

India’s Feb 2023 GST collections jumped 12% YoY to INR 1,49,577 crore. Revenue exceeded INR 1.40 lakh crore for the twelfth straight month.

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GST India ka unified indirect tax hai jo compliance ko structured banata hai; ye guide is topic ke rules aur practical steps cover karti hai.

In February 2023, Goods and Services Tax (GST) collections in India reached INR 1,49,577 crore, representing a 12% increase compared to the previous year. This marks the twelfth consecutive month where collections have exceeded INR 1.40 lakh crore. During February, significant year-on-year growth was observed, with a 6% rise in revenue from imported goods and a 15% increase in domestic transactions.

Detailed Breakdown of February 2023 GST Collections

The total GST revenue for February was INR 1,49,577 crore. This sum included INR 27,662 crore from Central GST (CGST), INR 34,915 crore from State GST (SGST), and INR 75,069 crore from Integrated GST (IGST), which encompassed INR 35,689 crore from imported goods. The cess collected amounted to INR 11,931 crore, with INR 792 crore originating from import duties. Notably, this month’s cess collection represents the highest recorded since GST’s inception.

The government allocated INR 34,770 crore from the IGST pool to CGST and INR 29,054 crore to SGST as part of regular settlements. Consequently, the combined revenue for the Central government (CGST) and State governments (SGST) reached INR 62,432 crore and INR 63,969 crore, respectively. Furthermore, the Central government disbursed the remaining GST compensation cess of INR 16,982 crore for June 2022. An additional INR 16,524 crore in final GST compensation was provided to states and Union Territories that had submitted certified revenue figures from their Accountant Generals.

Historically, February often registers lower GST collections given its shorter duration. However, the figures for this February, and indeed for several preceding months, have shown remarkable strength. This positive trend might be attributed to enhanced compliance efforts initiated by the government. Another contributing factor to the consistent GST collection figures observed recently could be the ongoing economic recovery across the country following the COVID-19 pandemic.

State and Union Territory GST Collection Overview for February 2023

Below is a detailed breakdown of GST collections across various states and Union Territories for February 2023:

State Feb-22 Feb-23 Growth
Jammu and Kashmir 326 434 33%
Himachal Pradesh 657 691 5%
Punjab 1,480 1,651 12%
Chandigarh 178 188 5%
Rajasthan 3,469 3,941 14%
Uttarakhand 1,176 1,405 20%
Bihar 1,206 1,499 24%
Haryana 5,928 7,310 23%
Delhi 3,922 4,769 22%
Nagaland 33 54 64%
Manipur 39 64 64%
Uttar Pradesh 6,519 7,431 14%
Sikkim 222 265 19%
Arunachal Pradesh 56 78 39%
Mizoram 24 58 138%
Tripura 66 79 20%
Meghalaya 201 189 -6%
West Bengal 4,414 4,955 12%
Jharkhand 2,536 2,962 17%
Assam 1,008 1,111 10%
Odisha 4,101 4,519 10%
Chhattisgarh 2,783 3,009 8%
Maharashtra 19,423 22,349 15%
Karnataka 9,176 10,809 18%
Madhya Pradesh 2,853 3,235 13%
Gujarat 8,873 9,574 8%
Dadra and Nagar Haveli 260 283 9%
Tamil Nadu 7,393 8,774 19%
Puducherry 178 188 5%
Goa 364 493 35%
Lakshadweep 1 3 274%
Andhra Pradesh 3,157 3,557 13%
Ladakh 16 24 56%
Andaman and Nicobar Islands 22 31 40%
Telangana 4,113 4,424 8%
Kerala 2,074 2,326 12%
Other Territory 136 211 55%
Centre Jurisdiction 167 154 -8%
Total 98,550 1,13,096 15%

All Indian states and Union Territories experienced positive year-on-year growth in their GST collections. Notably, Ladakh, Nagaland, Manipur, Mizoram, and Lakshadweep recorded the most significant increases this month. Conversely, the Central jurisdiction observed a decline in growth.

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