Tax collection goes up by 15% post GST
Since the implementation
of the Goods and Services Tax (GST) regime in the state,
Goa’s tax collection has increased 15% as recorded by
the state GST and commercial tax department.
Through tax collections,
the department has earned Rs 2,427 crore from April 1
till December 31, against the Rs 2,109 crore pocketed
for the same period in the previous financial year.
Goa’s tax mop-up under GST amounts to Rs 876 crore from
August to December, the state economic survey for
2017-18 shows. The data also indicates that total tax
revenue collection from VAT on retail petrol and
alcohol, along with state GST and integrated GST is Rs
1,237 crore.
per the GST Compensation
to States Bill, which was created to provide indemnity
against any loss in revenue owing to GST implementation,
recompense offered will be for a five-year period
starting from the date when the state GST Act is
implemented by the state government.
“Till December 31, 2017,
the state has received Rs 103 crore as compensation and
claim of Rs 74 crore is preferred and pending before the
government of India for the August to December period,”
the state economic survey said. |