Maharashtra collected the most GST of Rs 31,030 crore for October 2024, up 14 per cent from October 2023, according to official data released by the Government of India’s Goods and Services Tax Network. The next highest collections were from Karnataka (Rs 13,081 crore), Gujarat (Rs 11,407 crore), and Tamil Nadu (Rs 11,188 crore).
Among the states that posted the highest increase year-over-year in GST were Ladakh (up 30 per cent) and Kerala (up 20 per cent). The bigger slide for the month was in Arunachal Pradesh, down 33 per cent to Rs 56 crore from last year’s Rs 87 crore.
Net GST revenue grew 7.9 per cent to Rs 1,68,041 crore in October 2024. Out of this, Rs 1,21,231 came from domestic input, while Rs 36,288 crore came from customs.
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Earlier this week, the GST body announced an advisory to taxpayers who lapsed on filing returns, urging them to reconcile their records as soon as possible, citing that they would be barred from filing GST returns after three years from the filing due date. The changes are scheduled to be in effect from next year.
Seven years and a few months have passed since the introduction of the goods and services tax. Often sighted as one of the most significant economic reforms in the country since 1991, GST brought goods and services taxes under one unified system, replacing a varied set of state and central taxes. However, many states are still not happy with the system where the collection directly goes to the centre and the state’s share is then paid back to each territory.