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New Delhi:

The finance ministry said on Monday that goods and services tax collections rose 11.5% to Rs 1.78 billion in March, driven by domestic transactions.

The total GST collection in the last fiscal year (April 2023 to March 2024) was Rs 2,014 crore, which was 11.7% higher than the closing amount of the previous fiscal year.

The average monthly tax collection in FY24 is Rs 168 crore, up from Rs 150 crore in the previous fiscal.

“Gross goods and services tax (GST) collections hit the second highest ever in March 2024 at Rs 178 crore, up 11.5% year-on-year. The surge was driven by a sharp increase in domestic GST collections. Transaction rate 17.6%,” the ministry said in a statement.

In April 2023, Goods and Services Tax (GST) collection hit a record high of Rs 187 crore.

Goods and Services Tax (GST) revenue excluding refunds in March 2024 was Rs 165 crore, up 18.4% from the same period last year.

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