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Money Control
| 14dIndia's March GST collection second-highest ever at Rs 1.78 lakh crore
The finance ministry announced that India's goods and services tax (GST) collection for March 2024 was Rs 1.78 lakh crore, marking a growth of 11.5% compared to the previous year. The total gross GST collection for the fiscal year 2023-24 was Rs 20.18 lakh crore, an increase of 11.7%. The surge was attributed to a significant rise in domestic transactions. The average monthly collection for this fiscal year was Rs 1.68 lakh crore, surpassing the previous year's average. The CGST for March was Rs 34,532 crore, and the SGST was Rs 43,746 crore. The IGST was Rs 87,947 crore, and the cess was Rs 12,259 crore.
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