The State has registered a marginal rise in the collection of Goods and Services Tax revenue during December but it appears to be still a long way to go for reaching the target set for the current financial year.
According to the latest figures released by the Union government, the State reported GST revenue collection of ₹3,523 crore during December. This is 4% higher than the ₹3,420 crore GST revenue reported during December last year. The growth however continues to be on the low side as the GST collection had been adversely affected since the onset of the novel Coronavirus pandemic.
As against the target of ₹32,671 crore GST revenue collection during the current financial year, the State could not reach even half of the target till November. According to the monthly key indicators for November in the Comptroller and Auditor General of India website, the State managed revenue collection through GST of ₹15,247.17 crore till November-end. This was just 46.67% of the target for the first eight months of the fiscal as against the 58.42% achieved during the corresponding period of the previous fiscal.
The GST collections appeared to have picked up during October reporting ₹3,383 crore against the ₹3,280 crore of the same period previous financial year marking five per cent growth. But the GST collection showed a decline in the next month. The GST revenue collection dropped by five per cent during November from ₹3,349 crore to ₹3,175 crore of the current year.
The revenue collection reported a positive trend during December and the officials are hopeful that the trend will continue for the next three months so that the gap between the target envisaged and the actuals achieved is not too high.
