Mumbai: State GST collections rose to Rs 18,899 crore in July compared to Rs 13,721 crore in June. That is a rise of Rs 5,178 crore.
GST collections in July reflect business transactions made in the previous month. Since the state was under a lockdown in April and May, the June revenues reflected the collections during the previous lockdown month. As a result, the surge in July is sharper.
GST is a consumption-based tax and it is an important indicator of economic activity. GST collections in Maharashtra are the highest in the entire country and it is the main revenue earner for the state government.
This story is from the August 05, 2021 edition of The Times of India Mumbai.
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This story is from the August 05, 2021 edition of The Times of India Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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