India's goods and services tax (GST) collections showed resilience in March, surpassing ₹2 lakh crore for the third consecutive time, with an 8.8% year-on-year increase. This growth was primarily driven by a 17.8% rise in import-linked revenues, which reached ₹53,861 crore, while domestic GST growth was more modest at 5.9%. For the fiscal year ending March 31, total GST collections rose 8.3% to ₹22.27 lakh crore despite significant rate rationalizations on 375 items initiated in September 2022. The net revenues also grew 7.1% to ₹19.34 lakh crore, reflecting stable domestic consumption. However, experts caution that the ongoing geopolitical tensions, particularly the Iran war, may impact future consumption patterns. Analysts highlight that while consumption sentiment remains strong, much of the growth is attributed to import taxes, suggesting a need for continued policy intervention to support manufacturing amidst global volatility. Major states like Maharashtra, Karnataka, and Telangana are leading in collections, while others like Haryana and Andhra Pradesh are experiencing slower growth.