In March, GST revenue reached Rs 1.78 lakh crore, marking the second-highest collection since 2017. The growth was mainly fueled by a 17.6% rise in domestic transaction GST. Net of refunds, GST revenue hit Rs 1.65 lakh crore, showing an 18.4% increase from the previous year. The average monthly collection for this fiscal year stood at Rs 1.68 lakh crore, exceeding last year’s average. The central government’s total GST revenue for the current fiscal year is Rs 20.14 lakh crore, up 11.7% from the previous year. Analysts predict further growth and potential GST reforms.
March GST Revenue Hits Record Rs 1.78 Lakh Crore, Domestic Transactions Surge
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