India’s Gross Goods and Services Tax (GST) revenue for March 2024 witnessed the second-highest collection ever at Rs 1.78 lakh crore. With an 11.5 per cent year-on-year growth. This surge is driven by a significant rise in GST collection from domestic transactions at 17.6 per cent. GST revenue net of refunds for March 2024 is Rs 1.65 lakh crore which is the growth of 18.4 per cent over the same period last year. Strong Consistent Performance in FY 2023-24: FY 2023-24 marks a milestone with a total gross GST collection of Rs. 20.18 lakh crore exceeding Rs 20 lakh crore, an 11.7% increase compared to the previous year. 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. The GST revenue net of refunds as of March 2024 for the current fiscal year is ₹18.01 lakh crore which is a growth of 13.4 per cent over the same period last year.