In the previous months from April till June 2021 ‘Corona was in and GST was out’. Now the trend has reversed. ‘Corona is out and GST is in’. This assertion is based on facts and figures of the Goods and Services Tax, not an opinion. Maharashtra’s GST collection rose by nearly 38% in July 2021 as compared to the previous month of June 2021.
It is a sign of economic recovery after the brutal second wave in the state that ruined and devastated the lives of crores of people. Consequently, the Government imposed a lockdown and the sales were choked and furthermore GST revenue came to standstill. But now the brutality of Corona is lessening day by day. GST collection of a particular month reflects the economic activity of the previous month
State GST collection in June was mere Rs 13,721 crores. This means there was a low volume of activity in the economy in May 2021. Now it has touched Rs18,899 crores in July, an increase of Rs 5,178 crores. This means there was a high volume of activities in the economy in June 2021.
Worthwhile mentioning here that Maharashtra’s GST collection is the highest in the country as the commercial capital of country Mumbai is located in Maharashtra.
The GST figures of April to June prove that the lockdown last year was more stringent and had severe repercussions during the same quarter last year. This conclusion is arrived at owing to the fact that the GST collection from April to June last financial year i.e. April 2020 to June 2020 was Rs 40,552 crores as compared to Rs 68,000 crores in the April to June quarter of 2021.
