₹ 16,566 crore GST collected between April-Nov. this year
The State continued to register impressive growth in the collection of Goods and Services Tax in the current year too, attaining over 20 per cent growth till the end of November.
Barring July when the collections were down by over ₹ 250 crore, the State’s GST collection was consistently above the previous year’s collection month-wise.
The State has registered ₹ 16,566 crore GST collection between April and November this year.
This is against the total tax collection of ₹ 13,950 crore including the collection during the pre-GST regime between April and July last fiscal.
According to statistics, the GST collection during November was ₹ 1,991 crore as against ₹ 1,671 crore of the corresponding month previous year while collection in October was ₹ 2,413 crore much higher than ₹ 1,791 crore of the same period previous fiscal.
This is in addition to the tax collected in the form of value added tax on liquor and petroleum products taking the total to more than ₹ 30,000 crore till November. With four more months left for the completion of the financial year, the Revenue (commercial taxes) department officials are confident that the collection by the end of the fiscal is likely to be much higher.
The State had received pat from the Union Finance Minister Arun Jaitley for being one of the top performing States in the country ever since the introduction of the GST regime. “Telangana has done remarkably well in the GST regime,” Mr. Jaitley said during the recent GST Council meeting. Incidentally, Telangana does not get any GST compensation from the Centre as the State’s revenue growth has been on the rise consistently.
The State’s revenue gap had come down to 2.4 per cent from 27.8 per cent at the introduction of the GST regime which was far ahead of other States.