GST collections in November drop marginally in TS

The State registered marginal drop in the GST revenue collection during November.

The State reported GST revenue collection at ₹3,175 crore for the month against ₹3,349 crore collected during the same period last year, marking a five % decline. The development comes in the light of GST revenue collection at the national-level registering a marginal 1.4 % growth from ₹1,03,491 crore of November last year to ₹1,04,963 crore during the same month of the current fiscal.

The GST revenue collection during September was ₹ 2,796 crore against ₹2,854 crore of the year ago period, marking two % drop. But it has shown improvement in October when the State’s GST collection was reported at ₹ 3,383 crore for October this year. This marked a five % increase over the ₹ 3,230 crore reported during the same month in the previous previous fiscal.

The growth was significant in the light of the fact that the State registered decline in the revenue collection continuously since the onset of novel coronavirus (COVID-19) pandemic from the beginning of the current financial year. The State could not sustain the growth momentum in spite of business returning to near normalcy since the announcement of relaxations in COVID-19 restrictions.

The neighbouring Andhra Pradesh, however, continued to sustain the growth registering 12 % increase in the GST revenue collection from ₹2,230 crore last November to ₹2,507 crore during the same month this year. The neighbouring State has also performed well during October when it registered GST revenue collection of ₹2,480 crore against ₹1,975 crore of the year ago period showing 26 % increase.

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Printable version | Jan 23, 2021 2:29:49 PM |

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