Maharashtra GST collections see 11.6% dip in pandemic year – News 24-7 Live News 24-7 Live
Maharashtra GST collections see 11.6% dip in pandemic year

Maharashtra GST collections see 11.6% dip in pandemic year

Synopsis

Maharashtra is set to end the Covid-impacted financial year with Goods and Services Tax (GST) collections lower by 11.6% in comparison to the previous year. Data till March 25 shows that in 2019-20, the state collected Rs 1.85 lakh crore as GST, which fell to Rs 1.64 lakh crore in the current year—a Rs 21,594 crore shortfall.

(This story originally appeared in Times of India on Mar 30, 2021)Maharashtra is set to end the Covid-impacted financial year with Goods and Services Tax (GST) collections lower by 11.6% in comparison to the previous year.

Data till March 25 shows that in 2019-20, the state collected Rs 1.85 lakh crore as GST, which fell to Rs 1.64 lakh crore in the current year—a Rs 21,594 crore shortfall.

The Goods and Services Tax is the main revenue earner for Maharashtra, whose collections are the highest in the country.

It includes Central-GST, State-GST, Integrated-GST and cess.

When the Maharashtra budget was tabled on March 8, the state had revised its target for SGST collections.

Although the target for 2020-21 had been set at Rs 1 lakh crore, the state had collected Rs 88,000 crore.

News Source:- Economic Times

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