Telanganahas made it to the top ten states making a substantial contribution to Goods and Services Tax (GST). It has come in sixth in the country with 2,863 such tax payers who will be applauded by the Central Board of Indirect Taxes andCustoms(CBITC) with appreciation letters.
As the GST rollout has completed four years, an analysis shows thatMaharashtrahas highest number of GST payers at 15,131 followed by Karnataka, Nadu,Haryana, West Bengal and Telangana.
Among the taxpayers from Telangana, 36% are from micro enterprises, 41% from small entrepreneurs and 11% from medium enterprises. The data has been collected by National Institute of PUBLIC FINANCE And Policy (NIPFP).
NIPFP has also pointed out that between July 2017and January 2020, Rs 1,874 crore GST was evaded in the state and Rs 805 crore was recovered. Effectively, 43% of the evaded tax was recovered.
In fact, for the past four years, the state has seen a 10% Growth in GST each year. During the 2020-21 financial year when the lockdown impacted economic growth, GST collections fell compared to other major states. Data of GST collection between April and August 2019-20 and 2020-21 shows that there was a decline of 26.3% in collections.In 2019-20 the state collected Rs 15,949 crore between April and August as against Rs11,762 in 2020-21.