Telanganarecorded the second lowest Growth rate in terms ofGSTcollection in February at 8%. earned 4,424 crore GST revenue (4,113 crore in February 2022), whileHimachal Pradeshhad the lowest growth rate of 5% in the country.
According to the latest GST collection figures released by the finance department on Wednesday, other southern states fared better as their GST collection went up by at least 4% over and above that of Telangana’s. Kerala (12%),Andhra Pradesh(13%), Karnataka (18%) andTamil Nadu(19%) thus stole a march over Telangana in GST collection, sources said.
Though Telangana’s growth rate is low, overall GST collection for the year is on track, said officials. According to the Comptroller and Auditor General’s report (up to January), the state earned 34,729 crore or nearly 82% of the total budget (2022-23) estimates.
Telangana saw a decrease in revenue from key taxes beginning in March 2020 as a result of Covid-19. Following a decline in revenues in 2020-21, revenue recovery was observed in all of the major individual taxes that comprise the state’s own tax revenue (SOTR) in both 2021-22 and 2022-23, sales tax (VAT), state goods and Services tax (SGST), stamps and registration fees, motor vehicle tax and excise.