Mumbai, Apr 2: India’s goods and services tax collections surged by 9.9% YoY to Rs 1.96 lakh crore crore during March.Central GST collections stood at Rs 38,100 crore while state GST collections were at Rs 49,900 crore. Integrated GST collection was at Rs 95,900 crore while GST cess collections at Rs 12,300 crore in March.
Net GST collections in March was at Rs. 1.76 lakh crore, up 7.3% YoY while gross GST collections for FY25 stands Rs 22.08 lakh crore, up 9.4%, YoY. After adjusting refunds, Net GST collections for the FY25 is Rs 19.56 lakh crore, up 8.6%
Previously, goods and services tax collections rose 9.1% to Rs 183,646 crore during February on the back of double-digit rise in the mop up from domestic sources. GST collections for January reached Rs 1.96 lakh crore, marking a 12.3% increase compared to the same period last year.