Continuing the growth trend in Goods and Services Tax (GST) revenues, Kerala registered 13% growth in GST collection in August this year over August 2022.
According to data released by the Union Finance Ministry, collection for August 2023 stood at ₹2,306 crore. It was ₹2,036 crore in August 2022.
The collection for a given month pertains to the consumption of goods and services in the previous one.
The Finance Ministry also gave ₹2,472 crore as the amount settled to Kerala by way of State GST (SGST) and the SGST portion of Integrated GST (IGST) in August.
Kerala had reported a steady increase in GST revenues in the first quarter of 2023-24, a trend which is visible in the second quarter too. The State had recorded 10% growth in GST revenues in July 2023 over the previous July. The collection for July 2023 stood at ₹2,381 crore against ₹2,161 crore the previous July.
In the first quarter of the 2023-24 fiscal, Kerala had recorded 12% growth in GST revenues in April 2023, 11% growth in May and 26% growth in June compared to same months in the previous fiscal.
The State government had completed the revamp of the State GST department this year in a bid to plug tax leaks and improve collection.
