The federal government has launched GST assortment information for March 2024. (Picture: Shutterstock)
March 2024 sees the second-highest month-to-month gross GST income assortment at Rs 1.78 lakh crore
Gross GST assortment in March 2024 jumped 11.5 per cent year-on-year (YoY) to Rs 1,78 lakh crore, in response to an official assertion launched on Monday. It’s the second-highest month-to-month gross GST income assortment in March at Rs 1.78 lakh crore.
“Gross good and companies tax (GST) income for March 2024 witnessed the second highest assortment ever at Rs 1.78 lakh crore, with an 11.5 per cent year-on-year progress. This surge was pushed by a big rise in GST assortment from home transactions at 17.6 per cent. GST income web of refunds for March 2024 is Rs 1.65 lakh crore which is progress of 18.4 per cent over similar interval final 12 months,” the finance ministry stated within the assertion.
Based on the assertion, FY 2023-24 marks a milestone with whole gross GST assortment of Rs 20.14 lakh crore exceeding Rs 20 lakh crore, an 11.7 per cent enhance in comparison with the earlier 12 months. The common month-to-month assortment for this fiscal 12 months stands at Rs 1.68 lakh crore, surpassing the earlier 12 months’s common of Rs 1.5 lakh crore.
GST income web of refunds as of March 2024 for the present fiscal 12 months is Rs 18.01 lakh crore which is a progress of 13.4 per cent over the identical interval final 12 months.
