Odisha, Kerala, Gujarat and Maharashtra GST revenue collections are shocked as per the May 2022 report by suddenly increasing and dropping big differences in last month’s same year’s percentage. The post includes all the revenue generated by state governments in the given time period. One can determine the overall GST collections and can compare them with the previous collections.
41.89% Growth Odisha GST Collection in May 2022 from May 2021
Odisha has recorded a growth of 41.89% in GST by gathering Rs 1,174.02 cr in May 2022 against Rs 827.43 crore in the identical month last year.
80% High Kerala GST Collection in May 2022 from May 2021
Kerala earned Rs 2064 cr as state GST in May. It is 80% more than Rs 1147 cr the state earned in May 2021. The nationwide collection for May indeed represents a rise of 44% as corresponded to the identical duration in the former year.
May Figures are computed relying on the tax imposed for the goods and services exchanged in April. The figures of the national and the state level are lesser correspond to the number of April computed on the trade that is being performed in March, the former month of the fiscal year.
21% Low Gujarat GST Collection in May 2022
Gujarat – Does the demand reducing? The GST collection specified that the numbers get reduced by 21% in one month in May. as per the data obtained from the Union finance ministry, GST collection in Gujarat was Rs 9321 cr in May which is less than Rs 11,820 cr in April.
50% High Maharashtra GST Collection in May 2022 from Last Year
Rs 20,120 cr was the GST revenue collection in Maharashtra for May 2022, which is 50% higher than the month previous year which was Rs 13,399 cr.
But, the collection was 26% lesser than in April this year, when the figure stands at Rs 27,495 cr. May month collections show the returns for April, the first month. The same was always lesser than in April, which is related to the returns for March, the closing of the fiscal year.
The highest GST collections in the country are being achieved by the state of Maharashtra. Also, the current year’s GST collection which stands at Rs 47614 cr is 34.5% more as compared to the collection of the former year.
Regarding the issue of the GST payment with the centre, deputy CM Ajit Pawar on Thursday articulated that the Centre had released just Rs 14,145 crore this week, while Maharashtra’s GST compensation dues were Rs 29,647 crore, Rs 15,502 cr arrears still to be paid by the centre.
“We have already written to the Centre. We expect that the row over payment will be resolved on top priority. It will help us to allot more funds for developmental work. The state government lost revenue of Rs 3,500 crore when it reduced taxes on petrol and diesel,’ the senior NCP leader said.”
