GST Collection Decreases In Maharashtra In August By 14%; Oil Price Hike On Of The Reasons

Mumbai, 2nd September 2022: The collection of goods and services tax (GST) in Maharashtra in August has decreased by 14% i.e., around Rs 3,200 crores as compared to July.

Officials of the state’s finance department said that lower buying and selling transactions compared to the monsoon season and intermittently inflated oil prices in the international market is the reason.

18,863 crores were collected in the state during August from goods and services tax. In July, the collection was 22,129 crores. This was the lowest collection in the current financial year. A decrease in collection of more than 3,000 crores or 14% is a matter of concern for the state.

According to the senior finance department officials, although the collection in August has declined, the state’s economy is good. Compared to the last month of August (2021), there was a 19% increase in the collection at the national level in August this year. But at the same time, the official pointed out that Maharashtra’s collection has increased by 24%.

The Monthly GST Collection are as follows:

April – Rs.27,495 crore

May – RS.20,313 crore in May

June – Rs.22,341 crore

July – Rs.22,129 crores

August – Rs.18,863 crore