Mumbai: The Shiv Sena-led Maha Vikas Aghadi government is struggling to cope up with the impact of the coronavirus induced lockdown and slowdown in the economy. The state government’s revenue receipts for August 2021 were reported at Rs 21,098.43 crore against Rs 16,124.35 crore during the corresponding period last year, a rise of 30.84%. However, the revenue receipts in August have fallen by 6% compared to 22,508.77 crore reported in July 2021.
The dip in revenue receipts is attributed mainly to the fall in GST collection and registration fee and stamp duty in August. Maharashtra’s GST collection fell by a record 19% to Rs 15,175 crore against Rs 18,899 crore in July. That resulted in a shortfall of Rs 3,724 crore.
On the other hand, the state could collect Rs 8,865.33 crore of registration fee and stamp duty against the estimate of Rs 12,500 crore. There was a shortfall of Rs 3,634.67 crore.
Incidentally, State GST and registration fee and stamp duty contribute more than half to Maharashtra's major tax collection.
For April-August, the government’s revenue receipt was at Rs 100144.97 crore which was 27.14% of budget estimate. The state government has estimated total revenue of Rs 3,68986.86 crore for the fiscal 2021-22. State’s total revenue was reported at Rs 2,69,463.03 crore which was 77.55% of the budget estimate of Rs 3,47,456.89 crore and 92.84% of the revised estimate for 2020-21.
A state finance department officer told Free Press Journal, "The government expects a revival in the economy that will bring churn in various activities." He said despite reminders the Centre has yet to clear GST compensation dues of Rs 33,385.52 crore as on August 2021.
"During 2019-20, Centre has to clear GST compensation dues of Rs 1,029 crore. Of the 24,304.68 crore, the Centre has cleared 4,112.06 for 2020-21. The state’s demand for April-May is Rs 9,130 crore and for July-August Rs 9,535 crore. The total compensation stands at Rs 43,998.68 crore of which Rs 4,112.06 crore received and back-to-back loan of Rs 6,501.10 crore,’’ the officer said.
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