As India's GST crosses 1 trillion, Chhattisgarh, Andhra mark highest collection in October

As businesses slowly begin to open-up under various phases of Unlock, states have begun to show slow-yet-gradual signs of economic recovery. This has become evident through the Goods and Services Tax (GST) collection numbers that have begun rolling in for the month of October.  

With the nations' GST collection numbers crossing one lakh crore for the first time since the COVID-19 pandemic, the states of Chhattisgarh and Andhra Pradesh have recorded the highest spike in GST collection for the month. A spike of over 26% has been recorded for the two states in October 2020, with Chhattisgarh recording a GST collection of Rs 1,974 crore and Andhra Pradesh collecting Rs 2,480 crore. As compared to 2019, these figures come as a hugely positive sign even as the nation battles the COVID-19 pandemic. 

"Far-sighted decisions taken under the leadership of Chief Minister Bhupesh Baghel to maintain the growth of the state's economy during the COVID-19 crisis have yielded pleasant results. Even during the lockdown period, the economic activities in rural and forest areas continued," the Chhattisgarh government said in an official statement on Monday.

"Improvement in the spending power of people has benefited the industrial and commercial sector as well. Meanwhile, the procurement of forest produce by self-help groups also continued. As much as 30 per cent concession was provided on government guideline rates on land transactions to keep the real estate sector active," the statement added. 

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Notably, other states like Gujarat and West Bengal reported 15 per cent increase in the GST collection each at Rs 6,787 crore and Rs 3,738 crore respectively. Uttar Pradesh, Bihar and Kerala registered 7 per cent increase each at Rs 5,471 crore, Rs 1,010 crore, and Rs 1,665 crore respectively. Even states highly impacted by COVID-19 like Maharashtra have recorded a hike of 5 per cent at Rs 15,799 crore in the GST collection. 

It may be noted that the revenue collections from the GST touched its highest level so far this fiscal in September at Rs 95,480 crore in India. Finance Ministry in an official statement said, "total number of GSTR-3B Returns filed for the month of October up to 31 October 2020 is 80 lakh. The growth in tax collected shows “the trajectory of recovery of the economy”. The revenue for the month is 10 per cent higher than Rs 95,379 crore collected in the same month last year.

Read: GST Collections For October Exceeds Rs 1 Lakh-crore Mark, First Time Since COVID Lockdown

Read: GST Collection From Centrally Administered Assessees Rise By 10.16 Per Cent In September In Bengal

(With Agency Inputs; PTI Image)