Goa’s GST revenue in May declines by 1%

By: Admin
June 10, 2024
Categories: GST Recent News
4 Min Read

Revenues from the Goods and Services Tax (GST) are a trustworthy gauge of how well the state’s economy and business environment are doing. However, Goa has not had good news on this front for the month of May.

Compared to the taxes collected in the same month previous year, official GST revenue collections last month fell by a full percentage point.

While May’s GST revenues of Rs 519 crore went into the government coffers this year, they came in at Rs 523 crore last year.

Furthermore, the Rs 519 crore in GST revenues collected in May is a staggering 32 percent less than the GST revenue collection of April, which was collected in a previous month of Rs 246 crore.

In April, Goa’s GST receipts totalled Rs 765 crore.

Meanwhile, sources within the Commercial Taxes Department attributed the decline in GST revenues to fewer visitors as a result of the Lok Sabha elections falling during the summer.

May is when domestic travellers typically swarm Goa, as it is the month when Indian colleges and schools are off. However, this year’s considerably lower turnout is attributed to the seven-phase Lok Sabha election.

Source from: https://goemkarponn.com/goas-gst-revenue-in-may-declines-by-1/#google_vignette