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Andhra Pradesh creates record in GST collections with 26 percent growth
Centre likely to bring natural gas into GST fold
The commercial activities in the state have come to normalcy and reached the conditions same as before the outbreak of covid.
The commercial activities in the state have come to normalcy and reached the conditions same as before the outbreak of covid. GST statistics make this clear. State GST collection in October stood at a record Rs 2,480 crore. This is the first time that taxes have been levied at this level in the current financial year. GST collection in October last year was Rs 1,975 crore and hiked by 26 per cent to Rs 2,480 crore this year, according to the latest data released by the Union Finance Ministry. In addition to the Dussehra festival, decisions taken by Chief Minister YS Jagan Mohan Reddy to put the state's economy back on track, which was devastated by covid, have helped boost GST collections, Commerce and Taxation officials said. This is evidenced by the high growth rate in AP compared to neighboring states.,
On the other hand, Telangana and Karnataka grew by 5 per cent, Tamil Nadu by 13 per cent and Odisha by 21 per cent. Chief Commissioner of State Taxes PU Kumar said an additional Rs 350 crore was collected in October due to a special drive for tax collection. The minimum protected income for the year 2020-21 has been fixed at Rs. 2,225 crores. The Center will pay the reduced income in the form of compensation. For the first time in this fiscal year, taxes were levied in October beyond the minimum protected income. For the April-September period, the minimum protected income has been at Rs. 8,850.62 crore against Rs. 13,350 crore with Rs.4,499.38 crore less in six months. During these six months, the average GST collected was only Rs 1,475.10 crore per month.
