GST Collection & Analysis Report November 2024.pdf

November’s GST collections stood at ₹1.82 lakh crore, reflecting an 8.5% year-on-year growth fueled by robust festive season demand. This marks a healthy trend but falls short of October's ₹1.87 lakh crore, the second-highest collection since GST's inception. After issuing ₹19,259 crore in refunds, net revenues remain strong, aligning with an overall 10% growth in domestic GST revenues so far this fiscal year.

The festive surge helped key states like Maharashtra, Karnataka, and Gujarat maintain high contributions, yet slower growth in states like Uttar Pradesh, West Bengal, and Madhya Pradesh, along with declines in Rajasthan and Andhra Pradesh, capped the potential for higher collections. As festive momentum normalizes, sustained growth in consumption and manufacturing will be key to keeping the trajectory strong.

1. GST Collection
Analysis
November 2024

2. GST Collections in November climbed to ₹1.82 lakh crore, marking an 8.5%
y-o-y growth, driven by festive demand and robust domestic consumption.
About ₹19,259 crore was issued as tax refunds in November, down 8.9%
y-o-y, resulting in net revenues of ₹1.63 lakh crore.
GST collections for the first eight months of FY25 have surpassed FY24
figures by over ₹1 lakh crore, reflecting steady economic momentum.
November collections were slightly lower than October’s ₹1.87 lakh crore,
the second-highest since the GST regime’s introduction in 2017.
Collection Summary
Goss GST Revenue Collected
₹ 1,82,269 crore
Salient Points
₹ 34,141 crore
CGST
₹ 43,047 crore
SGST
₹ 91,828 crore
IGST
₹ 13,253crore
CESS
Y-o-Y Comparision
Previous Year This Year
(Values in Rs. Lakh Crore)
1
2.00
1.50
1.00
0.50
0.00
Dec Jan Feb Mar Apr May Jun Jul Aug
1.65
1.50
1.58
1.72
1.68
1.50
1.78
1.60
1.87
2.10
1.57
1.73
1.61
1.74
1.65
1.82
1.59
1.75
Sep
1.63
1.73
Oct
1.72
1.87
Nov
1.68
1.82

3. Collection Details
2
(Rs. in Crore)
GST Collections Nov-2023 Nov-2024 % Growth Nov-2023 Nov-2024 % Growth
A B C D = C/B-1 E F G = F/E-1
A.1. Domestic
CGST 30,420 34,141
2,46,265 2,71,514
SGST 38,226 43,047
3,09,003 3,37,412
IGST 47,810 50,093
3,58,901 4,02,056
CESS 11,239 12,398 87,179 93,835
Gross Domestic Revenue 1,27,695 1,39,678 9.4%
10,01,348 11,04,817 10.3%
A.2. Imports
IGST 39,198 41,736
3,23,039 3,44,260
CESS 1036 855 8,053 7,635
Gross Import Revenue 40,234 42,591 5.9%
3,31,092 3,51,894 6.3%
CGST 30,420 34,141 2,46,265 2,71,514
SGST 38,226 43,047 3,09,003 3,37,412
IGST 87,009 91,828 6,81,940 7,46,316
CESS 12,274 13,253 95,231 1,01,469
Total Gross GST Revenue 1,67,929 1,82,269 8.5% 13,32,440 14,56,711 9.3%
B.1. Domestic Refunds
CGST 2,952 2,326 20,454 21,743
SGST 3,522 3,238 25,216 27,473
IGST 5,797 4,373 36,847 35,709
CESS 304 174 1462 2092
Refund - Domestic 12,575 10,111 -19.6% 83,980 87,018 3.6%
B.2. Export GST Refunds through ICEGATE
IGST 8,432 9,019 65,567 77,862
CESS 136 129 1196 1215
Refund - Imports 8,568 9,147 6.8% 66,763 79,077 18.4%
CGST 2,952 2,326 20,454 21,743
SGST 3,522 3,238 25,216 27,473
IGST 14,229 13,392
1,02,415 1,13,571
CESS 440 303 2,658 3,307
Total Refund 21,143 19,259 -8.9% 1,50,743 1,66,095 10.2%
CGST 27,467 31,815
2,25,811 2,49,770
SGST 34,704 39,809
2,83,787 3,09,939
IGST 42,013 45,720
3,22,054 3,66,347
CESS 10,935 12,223 85,716 91,743
Net Domestic Revenue 1,15,120 1,29,567 12.5%
9,17,368 10,17,799 10.9%
IGST 30,766 32,717
2,57,471 2,66,398
CESS 900 727 6,857 6,420
Net Customs Revenue 31,666 33,444 5.6%
2,64,328 2,72,817 3.2%
CGST 27,467 31,815 2,25,811 2,49,770
SGST 34,704 39,809 2,83,787 3,09,939
IGST 72,779 78,436 5,79,526 6,32,744
CESS 11,835 12,950 92,573 98,162
Total Net GST Revenue 1,46,786 1,63,010 11.1% 11,81,697 12,90,616 9.2%
C.3 Net Revenue (C.1+C.2))
Monthly YTD
C.2 Net Revenue Customs (GST) (A.2 - B.2)
A.3. Gross GST Revenue(A.1+A.2)
B.3. Total Refund (B.1+B.2)
C.1 Net Revenue Domestic (A.1 - B.1)

4. State Collection Analysis
GST revenue growth was robust in regions like Jammu & Kashmir (25%), Sikkim
(52%), Delhi (18%) and major states like Maharashtra (17%) and Karnataka (15%).
However, few major states like Rajasthan (-1%), Andhra Pradesh (-10%), and
Chhattisgarh (-1%) reported negative growth.
Statewise Values
(Values in Rs. in Crore)
3
38 2994814974

5. State Collection Analysis
Statewise Change
(Values in Rs. in Crore)
4
GST collections in November were bolstered by festive season demand, with major
states like Maharashtra, Karnataka, and Gujarat contributing significantly to the
overall numbers. However, lackluster performance in states like West Bengal, Uttar
Pradesh, and Madhya Pradesh, coupled with declines in Rajasthan (-1%) and Andhra
Pradesh (-10%), prevented collections from exceeding October’s collection.
-23% 1120%560%

6. State Collection Details(Rs. in Crore)
5
State/UT Nov-23 Nov-24 Growth (%)
Andaman and Nicobar Islands 31 32 3%
Andhra Pradesh 4093 3699 -10%
Arunachal Pradesh 92 71 -23%
Assam 1,232 1,358 10%
Bihar 1,388 1,561 12%
Center Jurisdiction 223 286 29%
Chandigarh 210 253 20%
Chhattisgarh 2,936 2,897 -1%
Dadra and Nagar Haveli and Daman & Diu 333 348 5%
Delhi 5347 6311 18%
Goa 503 560 11%
Gujarat 10853 12192 12%
Haryana 9732 9900 2%
Himachal Pradesh 802 878 9%
Jammu and Kashmir 469 586 25%
Jharkhand 2633 2950 12%
Karnataka 11,970 13,722 15%
Kerala 2,515 2,763 10%
Ladakh 62 67 7%
Lakshadweep 0 5 1120%
Madhya Pradesh 3646 3812 5%
Maharashtra 25585 29948 17%
Manipur 40 38 -4%
Meghalaya 163 144 -12%
Mizoram 33 38 16%
Nagaland 67 52 -22%
Odisha 4,295 4,704 10%
Other Territory 222 172 -22%
Puducherry 228 229 0%
Punjab 2265 2327 3%
Rajasthan 4,682 4,622 -1%
Sikkim 234 356 52%
Tamil Nadu 10,255 11,096 8%
Telangana 4,986 5,141 3%
Tripura 83 98 18%
Uttar Pradesh 8973 9432 5%
Uttarakhand 1,601 1,824 14%
West Bengal 4915 5206 6%

7. SGST settled to States/UTs(Rs. in Crore)
6
2023-24 2024-25 Growth 2023-24 2024-25 Growth
Andaman and Nicobar 140 140 0% 347 378 9%
Andhra Pradesh 9291 9613 3% 20952 21998 5%
Arunachal Pradesh 418 361 -14% 1276 1188 -7%
Assam 3885 4206 8% 9553 10352 8%
Bihar 5377 5913 10% 16991 18735 10%
Chandigarh 439 502 14% 1505 1576 5%
Chhattisgarh 5398 5692 5% 8831 10143 15%
Dadra and Nagar Haveli 426 497 17% 699 845 21%
Delhi 10340 11847 15% 21037 24028 14%
Goa 1487 1659 12% 2616 2873 10%
Gujarat 27671 30000 8% 41545 48096 16%
Haryana 13415 15468 15% 23134 26246 13%
Himachal Pradesh 1731 1841 6% 3701 4178 13%
Jammu and Kashmir 1960 2013 3% 5367 5932 11%
Jharkhand 5866 5776 -2% 8116 9327 15%
Karnataka 26713 29514 10% 48766 54922 13%
Kerala 9171 9743 6% 20623 21792 6%
Ladakh 155 176 14% 457 528 15%
Lakshadweep 16 6 -60% 69 70 2%
Madhya Pradesh 8496 9043 6% 20673 23674 15%
Maharashtra 65983 73941 12% 96551 112174 16%
Manipur 229 249 9% 730 783 7%
Meghalaya 394 407 3% 1103 1187 8%
Mizoram 182 189 4% 634 633 0%
Nagaland 206 186 -10% 701 699 0%
Odisha 10626 11723 10% 15515 17253 11%
Other Territory 156 125 -20% 822 554 -33%
Puducherry 330 363 10% 933 1042 12%
Punjab 5612 6129 9% 14734 16102 9%
Rajasthan 11348 12017 6% 25699 28658 12%
Sikkim 321 264 -18% 677 646 -5%
Tamil Nadu 27046 30282 12% 42472 51430 21%
Telangana 12994 13859 7% 26691 29186 9%
Tripura 335 352 5% 1037 1139 10%
Uttar Pradesh 21624 23376 8% 49282 56687 15%
Uttarakhand 3625 3915 8% 5586 6275 12%
West Bengal 15600 16025 3% 28042 30737 10%
Grand Total 309003 337412 9% 567464 642064 13%
Pre-Settlement SGST Post-Settlement SGST