The combined income raised by the central and state governments from the Goods and Services Tax (GST) in March was ₹1.78 trillion, the second-highest since the unified indirect tax was implemented in 2017.
The amount of GST revenue collected in March increased by 11.5% as compared to the same month the previous year.
According to the finance ministry, the states and the federal government’s overall GST revenue receipts for the recently ended fiscal year were stable and robust.
Gross GST collections in FY24 were reported by the federal government and the states to have reached ₹20.14 trillion, a rise of 11.7% over FY23 collections and more than the 9.1% nominal GDP growth anticipated for the current year.
