March GST collections up 11.5% at Rs 1.78 lakh crore, second highest so far

The centre collected Rs 1.78 lakh crore as gross goods and services tax in the month of March, up 11.5% against the same month last year.

This is the second highest monthly gross GST collection.

“This surge was driven by a significant rise in GST collections from domestic transactions at 17.6%,” the finance ministry said in a statement.


The average monthly collection for this fiscal year stands at Rs 1.68 lakh crore, surpassing the previous year’s average of Rs 1.5 lakh crore.

“Strong Consistent Performance in FY 2023-24: FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.14 lakh crore exceeding Rs 20 lakh crore, a 11.7% increase compared to the previous year,” the statement said.

GST revenue net of refunds as of March 2024 for the current fiscal year is Rs 18.01 lakh crore which is a growth of 13.4% over same period last year.

Of the total collections, Central Goods and Services Tax (CGST) stood at Rs 34,532 crore, State Goods and Services Tax (SGST) was Rs 43,746 crore and Integrated Goods and Services Tax (IGST) was Rs 87,947 crore, including Rs 40,322 crore collected on imported goods.

The Cess collections stood at Rs 12,259 crore, including Rs 996 crore collected on imported goods.