Hyderabad: Telangana State has recorded over 20 per cent revenue growth rate in GST in the current financial year, reaching yet another milestone on the revenue front. While the government had targeted a revenue growth rate of 20 per cent from the State Tax Department, records available as on date show indicate that there was every possibility of crossing the targeted growth rate.
The State Goods and Services Tax (SGST) revenue during the month of March 2019 itself had crossed Rs 1,300 crore against a collection of Rs 960 crore in March last financial year. Telangana State would again top the list of States recording the highest growth rate in the country during the financial year 2018-19, the Telangana State Taxes Employees Association (TSTEA) said in a press release here on Monday.
Principal Secretary, Commercial Taxes and Excise, Somesh Kumar, congratulating the department for the impressive performance, said: “Your efforts and hard word have shown very good results in commercial taxes revenue, which crossed Rs 45,000 crore for 2018-19. The commercial taxes revenue for March 2019, is Rs 5,000 crore while SGST revenue for March 2019, is Rs 1,275 crore against the earlier best figure of Rs 1,042 crore in February 2019,” he said.
GST collection records Rs 1.06 lakh cr in March
GST collections scaled record high of Rs 1.06 lakh crore in March, up from Rs 97,247 crore in the previous month, as compliance improved amid increased number of returns filed. “Total gross GST revenue collected in March, 2019 is Rs 1,06,577 crore of which Central GST is Rs 20,353 crore, State GST is Rs 27,520 crore, Integrated GST is Rs 50,418 crore and cess is Rs 8,286 crore,” an official statement said. Total number of summary sales return GSTR-3B filed for the month of February up to March 31, stood at 75.95 lakh.