Even though Maharashtra continues to be number one among other states in the GST collection for November, it has dipped by 6.19% at Rs 21,611 crore against Rs 23,037 crore in October. There has been a reduction of Rs 1,426 crore. State’s GST collection in November 2021 was Rs 18,656 crore.
A senior finance department official told the Free Press Journal, ‘’The GST collection numbers came a day after India's economic growth slowed down to 6.3 per cent in the July-September quarter of this fiscal, dragged down mainly by the poor performance of manufacturing and mining sectors. It clearly indicates that the ongoing Russia-Ukraine war, challenging external environment, and no pick up in domestic demand consumption have impacted the state economy resulting in fall in the filing of GST returns.’’
The gross GST revenue collected for the country in the month of November is Rs 1,45,867 crore of which CGST is Rs 25,681 crore, SGST is Rs 32,651 crore, IGST is Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and Cess is Rs 10,433 crore (including Rs 817 crore collected on import of goods)
Maharashtra’s State GST collection was Rs 18,863 crore in August, Rs 22,219 crore in July, Rs 22,341 crore in June, Rs Rs 20,313 crore in May and Rs 27,495 crore in April.
The State GST (SGST) continues to be the major contributor of tax revenue as it contributes over 42.59%, followed by taxes on sales, and trades 20.19% and stamp duty and resignation fees 15.48%.
In 2022-23, state GST (SGST) is estimated to be the largest source of its own tax revenue (47%). SGST revenue in 2022-23 is estimated at Rs 1,19,900 crore, which is an increase of 11% over the revised estimates of 2021-22.
