Gross Goods and Services Tax (GST) revenue collection in March 2024 reached ₹1.78 lakh crore, marking the second-highest monthly collection since the introduction of GST and registering a year-on-year growth of 11.5 percent, driven primarily by a sharp 17.6 percent increase in domestic transactions. Net GST revenue for the month stood at ₹1.65 lakh crore, reflecting a robust growth of 18.4 percent over March 2023. The strong performance capped a milestone year for GST, with total gross collections in FY 2023–24 crossing ₹20 lakh crore for the first time to reach ₹20.18 lakh crore, representing an annual growth of 11.7 percent, while net collections grew by 13.4 percent to ₹18.01 lakh crore. The average monthly GST collection during the year rose to ₹1.68 lakh crore, significantly higher than the previous year’s average. All major components—CGST, SGST, IGST and cess—showed healthy growth, reflecting broad-based economic activity. During March 2024, the Centre settled ₹80,968 crore to States and the Centre from IGST collections, strengthening fiscal federalism. State-wise data indicated positive growth across most States and Union Territories, underscoring sustained consumption and compliance. Overall, the revenue figures highlight the resilience of the GST system and continued momentum in India’s economic recovery.