Maha GST collection up 6.4% in Q1 at Rs 46,587 cr

Maharashtra revenue minister Sudhir Mungantiwar Monday said the state recorded a marginal 6.38 per cent growth in GST collection at Rs 46,586.93 crore during the first quarter of the current fiscal year. In the June quarter of FY19, the state had mopped up Rs 43793.96 crore from GST, he added.

Addressing a function on the second anniversary of the one-nation-one-tax regime (GST), the minister said better tax collection is necessary for the financial independence of not only of the state but the nation at large as well. "As the country aspires to be a USD 5-trillion economy by 2025, Maharashtra has also set a target of being a USD 1- trillion economy by that time.

"Currently our share in GDP is 15 per cent and to reach the 2025 target we will have to take it to 20 per cent. For this, we need to work towards increasing GST collection," Mungantiwar added. Maharashtra's share in GST collection was 14.44 per cent in FY19 when the state collected Rs 1.7 lakh crore while the national GST collection in FY19 was Rs 11.77 lakh crore, he said.