PANAJI
The September revenues netted under the Goods and Services Tax (GST) regime in Goa dropped marginally to Rs 497 crore as against Rs 509 crore in August.
It is however 16 per-cent higher than the Rs 429 crore collected in September last year, according to figures released by the Finance Ministry.
GST collections are a good indicator of robustness or otherwise of business and the economy.
Meanwhile the ministry said, the gross GST revenue for September was Rs 1.62 lakh crore of which Central GST was Rs 29,818 crore and State GST was Rs Rs 37, 657 crore and international GST including on import of goods was Rs Rs 83, 623 crore.
Goa also received Rs 285 crore from the Centre by way of share in the state GST (SGST) and share in the SGST portion of the integrated GST (IGST), viz. the tax levied on interstate purchases or supplies of goods and imports.
Meanwhile, driven by the upturn in local tourism and hospitality-related businesses, the state’s GST revenue surpassed the all-India average by a wide margin. The average rate of year-on-year growth in taxes for all states was comparatively lower at 11% in August.
In the coming months, the state’s GST revenue is expected to remain buoyant on the back of increased consumption due to the Ganesh Chaturthi festival this month followed by other festivals. Traditionally, GST collection of the state has always been higher in the second half of the year.
