Indicating which thing can be in stock of the state towards the collection of goods and services (GST) in May month in the situation of lockdown the collection dips 42% since March besides COVID-19 pandemic was raging in Bengaluru.
The net GST collection consisting of cess which fells from Rs 9954 cr in March to Rs 5731 cr in April month. It is urged to get a sharp for May month the numbers for which are urged in this month. The dip in collection for April comes post to the record collection in the country in March.
For the State, the pure collection from State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) settlement, Karnataka Sales Tax, and Professional Tax dipped from ₹7,123 crores in March to ₹4,304 crores in April a 40% slump. This does not include the compensation sustained.
“We have not calculated a possible dip for May, but it could be big considering what has come for the month of April and the lockdown in place in May, a senior Finance Department official commented.”
As of 10 May, the state was being lockdown to cure the spread of covid-19 limitations was executed across Karnataka from the last week of April. There are 20 districts that have executed a strict lockdown with respect to the statewide lockdown for May month.
KST Restrained
Karnataka Sales Tax (KST) is also gets lowered with Rs 1885 cr was accumulated for March it was less to Rs 1620 cr in April i.e a dip of nearly 14%. As the vehicles are also subjected to stop from lockdown laying down the petrol and diesel consumption in May which is urged to go down in coming time.
From Rs 106.28 crore to Rs 82.75 cr the professional tax collection gets also down in 2 months. However with respect to the respective 2 months last year the collection get refined to Rs 189 cr with respect to Rs 182 cr.
The Lower Past Year
The financial numbers of the April/May month of this year are better with respect to the same month in the previous year when the national lockdown gets imposed. GST collection of Rs 15,686 crore has been declared this year, with respect to Rs 6,537 crores last year a 139% increase.
The collection of Rs 3506 cr is reported this year for sales tax with respect to Rs 1662 cr in 2020 which is double for the month with a 110% rise.
