Panaji: Driven by a strong resurgence in tourism and Revival In manufacturing activity, gross goods and services tax (GST) Revenue collection in Goa remains positive with December recording 73% jump year on year Collection. The growth, which is 14% higher than in November, is also much higher than the 13% growth seen nationally.
According to the Union Finance Ministry, Rs 592 crore was collected in December as Central GST, State GST, Integrated GST and Cess, while Rs 518 crore was collected in November. In December 2020, the total GST collection in Goa was Rs 342 crore.
GST officials attribute the increase in indirect tax collections to economic reforms and anti-evasion enforcement activities, especially action against fake billers. He expects the strong trend in revenue to continue in January, when GST returns for businesses are filed in December.
Nationally, the gross GST revenue was Rs 1,29,780 crore, of which CGST is Rs 22,578 crore, SGST is Rs 28,658 crore, IGST is Rs 69,155 crore and cess is Rs 9,389 crore.
The state government’s annual GST collection has shown a steady increase every financial year, rising from Rs 3,651.8 crore in 2017-18 to Rs 4,689 crore in 2020-21. Goa’s GST revenue till July stood at Rs 1,346.6 crore.
Officials of Goa’s finance department said tax collection is highest in the November-January period, which coincides with the peak tourism season.
Along with several other states, Goa has also sought extension of the GST Compensation Cess regime for another five years. Goa’s representative in the GST Council, Cabinet Minister Mauvin Godinho, has urged the Center to increase its share in centrally sponsored schemes, as Goa’s revenue has been badly hit by the COVID-19 pandemic. Godinho has also sought a package of Rs 500 crore from the Center in the Union Budget.
According to the Union Finance Ministry, Rs 592 crore was collected in December as Central GST, State GST, Integrated GST and Cess, while Rs 518 crore was collected in November. In December 2020, the total GST collection in Goa was Rs 342 crore.
GST officials attribute the increase in indirect tax collections to economic reforms and anti-evasion enforcement activities, especially action against fake billers. He expects the strong trend in revenue to continue in January, when GST returns for businesses are filed in December.
Nationally, the gross GST revenue was Rs 1,29,780 crore, of which CGST is Rs 22,578 crore, SGST is Rs 28,658 crore, IGST is Rs 69,155 crore and cess is Rs 9,389 crore.
The state government’s annual GST collection has shown a steady increase every financial year, rising from Rs 3,651.8 crore in 2017-18 to Rs 4,689 crore in 2020-21. Goa’s GST revenue till July stood at Rs 1,346.6 crore.
Officials of Goa’s finance department said tax collection is highest in the November-January period, which coincides with the peak tourism season.
Along with several other states, Goa has also sought extension of the GST Compensation Cess regime for another five years. Goa’s representative in the GST Council, Cabinet Minister Mauvin Godinho, has urged the Center to increase its share in centrally sponsored schemes, as Goa’s revenue has been badly hit by the COVID-19 pandemic. Godinho has also sought a package of Rs 500 crore from the Center in the Union Budget.
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