In Sept. 2021, the collection was ₹1,764 crore; this year, it is ₹2,246 crore
In Sept. 2021, the collection was ₹1,764 crore; this year, it is ₹2,246 crore
Goods and Services Tax (GST) collection in September has recorded a 27% growth in the State over the previous September, continuing a trend in tax collection in the post-COVID 19 environment. Data released by the Union Finance Ministry on Saturday put the GST revenue for September this year at ₹2,246 crore. The collection in September 2021 had stood at ₹1,764 crore.
The collection for September pertains to the consumption of goods and services in August. As the fiscal reaches the halfway point, the State has clocked an encouraging year-on-year rise in GST revenues, even as the State government harbours serious concerns about the impact of Central policies on the State’s financial health.
Collection in April had stood at ₹2,689 crore, a 9% growth over the previous April. The collection for May stood at ₹2,064 crore (80% increase over May 2021), ₹2,161 crore in June (116% increase over previous June), and ₹2,161 crore (29% growth) in July. August 2022 recorded a 26% increase over the previous August with the collection standing at ₹2,036 crore.
‘Indicates revival’
The steady growth is indicative of the post-COVID revival in the Kerala economy and the measures introduced by the government to make tax collection more robust, K.J. Joseph, director, Gulati Institute of Finance and Taxation (GIFT), said.
In July, the Cabinet had given the go-ahead for restructuring the State GST department, eyeing increased efficiency in tax collection. The department has also launched incentive-based schemes such as the ‘Lucky Bill’ app aimed at curbing tax evasion.
Central policies, including the stoppage of GST compensation, are likely to deprive Kerala of about ₹23,000 crore this fiscal, Finance Minister K.N. Balagopal had warned.
