GST Bonus: Maharashtra collects 28% more revenue in April-July 2018 during the same period last year.

GST Bonus: Maharashtra collects 28% more revenue in April-July 2018 during the same period last year.

source:google

Service Tax (GST) has emerged as a silver lining for the cash-rich Maharashtra. The state collected Rs 45,626 crore iun the first four months of this financial year. According to the data of the State GST Commissioner, it is 28.3% increase in the indirect taxes collected between April and July 2017.

Mumbai: Revenue from the Goods and Services Tax (GST) has emerged as a silver lining for Maharashtra's cash-rich state.The state has collected 45,626 crore in the first four months of this financial year. It is 28.3% of indirect taxes. The increase is according to the data of the State GST Commissioner, between April and July 2017.

During April-July 2017, when the GST had not yet been implemented, the state's revenue was Rs 35,548 crore by indirect taxes. The GST regime was introduced on July 1, 2017.

Maharashtra is one of the leading states in GST payment. For the period April-July this year, the country has 14.77% share in GST payment.

During this period, GST in India was 3.89 lakh crore rupees.GST paid in Maharashtra amounted to Rs 57,545 crore.

However, it is not clear that the same pace of revenue collection will continue in comparison to the GST rate cut. In July, the GST Council has made the tax rational The senior officials said, "The full impact of the rate cut will be reflected at the time of filing of returns in August."

The introduction of GST has been to eliminate the indirect taxes including VAT, Octori and Local Body Tax The leaders in the state said that in order to compensate the municipalities with octroi and LBT of 13,000 crores annually, the Raj The GST collection of Maharashtra is the highest in the country because the officials in both the manufacturing and service sectors said. "The states of GST, Rajiv Jalota said," Country is a major consumption center because it The GST Commissioner Rajiv Jalota said, "This is not only the person but also the business, which is the banking and financing services to consumers in the state, including insurance as well as financial services, he said. However, on the basis of compensation offered by the Center during the same period.

However,Maharashtra's GST revenue has decreased by Rs 2,372 crore. GST Governments, states should be compensated by the Center if they fail to meet the target of 14% of the tax target which was stuck in the GST regime.