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Telangana registers notable growth in GST collections
Even during the lockdown period, Telangana State has registered a phenomenal growth in the GST collections.
Hyderabad: Even during the lockdown period, Telangana State has registered a phenomenal growth in the GST collections. Competing with other fast developing states like Gujarat, Maharashtra and Kerala, Telangana's GST collections have crossed Rs 3,200 crore in June month registering a 3 per cent growth over Rs 3,100 crore in the same month last year.
Officials said that the growth in GST collections in June in Telangana is a clear indication that the State will overcome the financial woes in the second quarter of the year between July and September. Union finance ministry has released the data of GST collections for the month of June this year.
The opening of many business establishments after the Centre announced lockdown relaxations pushed the State economy forward. The State is expecting the GST collection will be more in July if the lockdown relaxations continued. In the first two months of lockdown in April and May, the GST collections were less than Rs 700 crore.
The increased GST collections will help Telangana to get more devolution from the Centre in the crisis time. Officials said that State-owned revenues from property registrations, liquor sales, transportation and VAT on fuel sales are also increasing considerably.
