Team Blitz India
NEW DELHI: The Gross Goods and Services Tax (GST) collection in March registered an 11.5 per cent year-on-year growth at Rs 1.78 trillion, the Finance Ministry informed on April 1.
The ministry said it was the second-highest GST collection ever, driven by a significant increase in tax collections from domestic transactions. The highest-ever GST collection was recorded at Rs 1.87 trillion in April 2023.
The gross total GST collection for FY24 stood at Rs 20.14 trillion, up by 11.7 per cent when compared to FY23.
According to the Ministry, the average monthly collection for FY24 was Rs 1.68 trillion, exceeding the FY23 average of Rs 1.5 trillion. The GST revenue net of refunds as of March 2024 for the current fiscal year was at Rs 18.01 trillion, growing by 13.4 per cent over the same period last fiscal year.
