State collects highest SGST of ₹ 1,021 cr

The State has registered a revenue collection of ₹1,021.32 crore under the State Goods and Services Tax component of the GST during April.

This is by far the highest SGST collection ever since the GST regime was introduced in July last year. The previous highest SGST collection was ₹ 903.67 crore during March. The development comes at a time when the total gross GST revenue collected in the country during April crossed ₹ 1 lakh crore and reached ₹1,03,458 crore.

The achievement corroborates the compliment given by Union Finance Secretary Hasmukh Adhia, who showered praises on the Telangana authorities for successfully bringing down the revenue gap in GST collection to 2.4% by the end of the financial year 2017-18 from 27.8% at the commencement of the GST regime.

The State achieved the distinction of bringing down the revenue gap to single digit when the overall revenue gap in the country was 17.9%. The Union Secretary hoped that the State would soon become revenue surplus from the present revenue deficit status.

The State witnessed significant rise in revenue through IGST settlement registering ₹ 855.61 crore on that count. The previous highest IGST settlement was ₹ 800.76 crore achieved during January and ₹ 799 crore during March. The State now posted total revenue of ₹ 1,876 crore -- ₹ 855.61 crore through IGST settlement and ₹ 1,021.32 crore through SGST -- close to ₹ 175 crore higher than the previous month’s ₹ 1,702.67 crore.