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December 2023 Goods and Services Tax Collection Report

India's GST collections for December 2023 reached Rs. 1,64,882 crore, marking the fifth highest collection for the fiscal year with a 12% annual growth despite a slight dip from the previous month. The total comprised significant contributions from CGST, SGST, and IGST, including revenue from imported goods. The Ministry of Finance's report detailed state-wise performance and the distribution of funds between central and state governments after settlements.

📖 5 min read read🏷️ GST Collections

India's Goods and Services Tax (GST) collections for December 2023 totaled Rs. 1,64,882 crore, a slight decrease from November 2023's Rs. 1,67,929 crore. Despite this, the December figures represent the fifth highest collection for the current fiscal year, demonstrating a 12% annual revenue growth.

Breakdown of December 2023 GST Collections

The December 2023 GST collections comprised Rs. 30,443 crore from Central GST (CGST), Rs. 37,935 crore from State GST (SGST), and Rs. 84,255 crore from Integrated GST (IGST). A significant portion of IGST, Rs. 41,534 crore, was generated from imported goods. Additionally, cess collections amounted to Rs. 12,249 crore, with Rs. 1,079 crore attributed to imported goods, according to the latest PIB report.

Government data shows that the central government settled Rs. 40,057 crore towards CGST and Rs. 33,652 crore towards SGST from the Integrated GST funds in December 2023. After these routine settlements, the net revenue for the Centre stood at Rs. 70,501 crore (Central GST), and for the states, it was Rs. 71,587 crore (State GST).

Analysis of December 2023 GST Collection Performance

December 2023 witnessed a decline in GST collections compared to November. However, the month's collections still showed a 12% year-on-year growth for the fiscal year 2023-24. Notably, gross GST collections surpassed the Rs. 1.60 lakh crore benchmark for the seventh instance in FY 2023-24, with the average gross collection reaching Rs. 1.66 lakh crore over the first nine months of this fiscal year.

Domestic revenue, encompassing service imports, increased by 13% year-on-year. Furthermore, December 2023's GST revenue registered a 10.3% year-on-year increase compared to December 2022, which recorded collections of Rs. 1,49,507 crore.

Since April 2023, GST collections have shown fluctuating trends. The lowest point for FY 2023-24 occurred in May 2023, with collections at Rs. 1,57,090 crore. Overall, the gross GST collection for FY 2023-24 up to December 2023 is 12% higher than the corresponding period in FY 2022-23.

State and Union Territory GST Collections for December 2023

The Press Information Bureau (PIB) has released detailed GST collection figures for each state and union territory for December 2023:

State/UTDec 2022Dec 2023Growth (%)
Jammu and Kashmir41049220%
Himachal Pradesh7087455%
Punjab1,7341,8758%
Chandigarh21828129%
Uttarakhand1,2531,47017%
Haryana6,6788,13022%
Delhi4,4015,12116%
Rajasthan3,7893,8281%
Uttar Pradesh7,1788,01112%
Bihar1,3091,48714%
Sikkim290254-13%
Arunachal Pradesh679744%
Nagaland44464%
Manipur46509%
Mizoram232718%
Tripura78792%
Meghalaya1711710%
Assam1,1501,30313%
West Bengal4,5835,01910%
Jharkhand2,5362,6324%
Odisha3,8544,35113%
Chhattisgarh2,5852,6131%
Madhya Pradesh3,0793,42311%
Gujarat9,2389,8747%
Dadra and Nagar Haveli and Daman & Diu3183335%
Maharashtra23,59826,81414%
Karnataka10,06111,75917%
Goa46055320%
Lakshadweep14310%
Kerala2,1852,45812%
Tamil Nadu8,3249,88819%
Puducherry19223221%
Andaman and Nicobar Islands212835%
Telangana4,1784,75314%
Andhra Pradesh3,1823,54511%
Ladakh2658127%
Other Territory249227-9%
Center Jurisdiction17924336%
Grand Total1,08,3941,22,27013%

Annual Comparison of State GST (SGST) Before and After Settlement by State

Below is a state-by-state comparison of State Goods and Services Tax (SGST) figures, both before and after the settlement process, for fiscal years 2022-23 and 2023-24:

Pre-Settlement SGSTPost-Settlement SGST[2]
State/UT2022-23
Jammu and Kashmir1,699
Himachal Pradesh1,731
Punjab5,719
Chandigarh451
Uttarakhand3,568
Haryana13,424
Delhi10,167
Rajasthan11,483
Uttar Pradesh20,098
Bihar5,307
Sikkim221
Arunachal Pradesh344
Nagaland158
Manipur216
Mizoram130
Tripura311
Meghalaya339
Assam3,785
West Bengal15,959
Jharkhand5,562
Odisha10,313
Chhattisgarh5,426
Madhya Pradesh7,890
Gujarat27,820
Dadra and Nagar Haveli and Daman and Diu479
Maharashtra63,169
Karnataka25,976
Goa1,435
Lakshadweep7
Kerala9,011
Tamil Nadu26,657
Puducherry344
Andaman and Nicobar Islands133
Telangana12,287
Andhra Pradesh9,298
Ladakh123
Other Territory135
Grand Total3,01,175

The Ministry of Finance published the December 2023 GST collection report on the PIB website via a press release on January 1, 2024. Source

Frequently Asked Questions

What is the significance of the Integrated GST (IGST) in overall GST collections?
Integrated GST (IGST) is levied on interstate supplies of goods and services, as well as on imports. It plays a crucial role in overall GST collections as it accounts for a substantial portion, ensuring a seamless tax credit chain across states and facilitating revenue sharing between the Centre and states.
How does the government settle GST collections between the Centre and states?
The central government settles GST collections by allocating portions of the Integrated GST (IGST) to both Central GST (CGST) and State GST (SGST) accounts. This settlement process ensures that states receive their share of taxes from inter-state transactions, maintaining fiscal balance.
What factors contribute to fluctuations in monthly GST collection figures?
Monthly GST collection figures can fluctuate due to various factors including economic activity, seasonal demand, festive periods, changes in tax compliance, policy adjustments, and the timing of tax filings. Imports of goods and services also significantly impact IGST collections.
How can businesses track state-wise GST collection performance?
Businesses can track state-wise GST collection performance through official reports released by government bodies like the Press Information Bureau (PIB) and the Ministry of Finance. These reports often provide detailed breakdowns of collections by state and union territory.
What is the difference between pre-settlement and post-settlement SGST?
Pre-settlement SGST refers to the initial State Goods and Services Tax collected within a state. Post-settlement SGST includes the state's share received from the Integrated GST (IGST) pool after the central government has completed its settlement process, reflecting the final revenue retained by the state.

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