What was the average monthly GST collection in India for the 2023–24 fiscal year?

Correct option is A

The correct answer is: (a) ₹1.68 lakh crore
Explanation:
· According to data from the Ministry of Finance, India’s average monthly GST collection in FY 2023–24 stood at ₹1.68 lakh crore.
· This marked the highest-ever yearly average, indicating robust compliance and economic activity.
Information Booster:
· GST was launched on 1 July 2017.
· GST includes CGST, SGST, IGST, and Compensation Cess.
· April 2024 saw a record monthly GST collection of over ₹2 lakh crore.
· GST is administered by the GST Council, chaired by the Union Finance Minister.
· FY 2023–24 saw a 12% growth in GST revenues compared to the previous year.
· Major contributing sectors: manufacturing, services, imports.