Maharashtra has maintained its top slot in the GST collection for October across the country. The state’s GST collection increased to Rs 23,037 crore in October 2022 against Rs 21,403 crore in September 2022, a rise of Rs 1,904 crore. State's GST collection in October 2021 was Rs 19,355 crore.
Across India, the gross GST revenue collected in the month of October 2022 is Rs 1,51,718 crore of which CGST is Rs 26,039 crore, SGST is Rs 33,396 crore, IGST is Rs 81,778 crore (including Rs 37,297 crore collected on import of goods) and Cess is Rs 10,505 crore (including Rs 825 crore collected on import of goods), which is second highest till date.
A state finance department official said, ‘’The rise in state GST collection once again shows that the economy’s recovery is gaining momentum especially after the downturn during the coronavirus pandemic. Besides, the filing of GST returns is high in Mumbai and the rest of Maharashtra as the state has been the growth engine. The rise in collection is also because the headquarters of many companies are situated in Mumbai. The ongoing festive season has also contributed majorly in increase in the GST collection.’’
Maharashtra’s State GST collection was Rs 18,863 crore in August, Rs 22,219 crore in July, Rs 22,341 crore in June, Rs Rs 20,313 crore in May and Rs 27,495 crore in April.
The State GST (SGST) continues to be the major contributor of tax revenue as it contributes over 42.59%, followed by taxes on sales, trades 20.19% and stamp duty and resignation fees 15.48%.
In 2022-23, state GST (SGST) is estimated to be the largest source of its own tax revenue (47%). SGST revenue in 2022-23 is estimated at Rs 1,19,900 crore, which is an increase of 11% over the revised estimates of 2021-22.
