03.03.2023: Telangana GST collection growth rate in February among lowest

Telangana recorded the second lowest growth rate in terms of GST collection in February at 8%. Telangana earned 4,424 crore GST revenue (4,113 crore in February 2022), while Himachal Pradesh had 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%) and Tamil Nadu (19%) thus stole a march over Telangana in GST collection, sources said. 

India's GST collection growth rate in February stood at 15%.

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.

“This is significantly better than the budgeted achievement of 76% by January 2022. With two months left in this fiscal year, the total budget estimates of GST will be realised,” official sources said. Interestingly, Telangana's GST has been steadily increasing at an annual rate of 8%. Even in December 2022, the state's collection had increased by 8%.

In the final month of the fiscal year, Telangana earned the total revenue, including GST, of 1.54 lakh crore when compared to the total revenue estimates of 2.45 lakh crore.

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.

Source: The Times of India 

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