Gross GST Revenue collection in March at Rs 1.78 lakh crore; Records 11.5% year-on-year growth

The gross Good and Services Tax (GST) revenue for March this year has witnessed the second highest collection ever at one lakh 78 thousand crore rupees, with an over 11 per cent year-on-year growth. Union Finance Ministry said, this surge was driven by a significant rise in GST collection from domestic transactions at 17.6 per cent. The average monthly collection for last fiscal year stands at one lakh 68 thousand crore rupees, surpassing the previous year’s average of one lakh 50 thousand crore rupees.

The Ministry said, GST revenue net of refunds for March this year is one lakh 65 thousand crore rupees which is growth of 18.4 per cent over same period last year.

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