MaharashtrasGSTcollections, which had soared in the festive month of October, saw a dip of Rs 699 crore in November.
Thecollections declined from Rs 19,355 crore in October to Rs 18,656 crore in November, the latest data shows. However, the states GST collections in the eight months of the financial year from April to November are a steep 61.5% higher than they were last year. Collections during this period are Rs 1,20,752 crore in 2021 compared to Rs 74,665 crore in 2020.
GST is a consumption-based tax and is an indicator of economic activity. Maharashtras GST collections are the highest in the country and it is the main revenue earner for the .
Indeed, collections for April were the highest so far this year, followed by collections in October. The GST collections for May, June, August and November were relatively lower.
However GST collections for November 2021 are 32.5% higher than the corresponding month in 2020. The collections are Rs 16,428 crore this November compared to Rs 12,403 in November 2020. This is because last years lockdown was more stringent and the economic recovery was slower.