Goa GST haul for August 34% less than last year

PANAJI: Despite steps to revive the economy, Goa’s GST revenues remain sharply down, with the state accounting for just Rs 213 crore in August against the Rs 325 crore earned a year ago during the same period.
While Goa witnessed a 34% shortfall in GST collections, the national decline in GST revenues stood at 8% for August. Of the Rs 213 crore collected in Goa as GST in August, less than half will go to the state, while the rest goes into the CGST and IGST kitty.
The state opened for tourism two months ago, and this week permitted bars and restaurants to serve alcohol. Since the closure of mining, tourism has proved to be the mainstay for the state’s economy.
With Covid-19 disrupting all economic activity, Goa’s finance department expects the state’s annual GST shortfall to hover around 50%. But though GST collections remain far below normal, GST figures for the last three months show recovery, said finance department officials.
“The revenue during the financial year has been impacted due to Covid-19, firstly due to the economic impact of the pandemic and secondly due to the relaxations given by the government in filing of returns and payment of taxes due to the pandemic,” said the official.
In June, Rs 324 crore was collected as GST in Goa, while figures for July have not been released. “It may also be noted that taxpayers with turnover of less than Rs 5 crore continue to enjoy relaxation in filing of returns till September,” said an official.
With the Centre yet to compensate Goa Rs 1,018 crore for the GST shortfall since April, the shortfall in GST in August will only add to the state’s financial burden.