Andhra Pradesh, Tamil Nadu see max GST decline in Q1

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Among the southern states, Andhra Pradesh, Kerala and Tamil Nadu faced maximum decline in GST revenue in the first quarter of the current financial year, compared to the same period last year. While Andhra Pradesh and Kerala faced 46% decline, Tamil Nadu’s fall was 45%, as per the data released by the Union finance ministry.

Telangana (35%) reported the least fall among southern states. Karnataka’s GST revenue dropped by 37% during the same period. Except Kerala, all are industrialised states. Gujarat, however, suffered the maximum, 48%, among the industrialised states. “The GST revenue, which includes state GST (SGST) and inter-state GST (IGST) has declined due to lockdown in the first quarter, but the good news is that the GST revenue has started increasing from May onwards,” said a senior finance department official.

Like the first quarter last year, Karnataka clocked maximum GST revenue among southern states this year too. As against Tamil Nadu’s GST revenue of Rs 6,659 crore, Karnataka mopped up Rs 8,591 crore from April to June this year. “Karnataka gets considerable amount of revenue from the IT sector, which was not hit badly as their employees were working from their residences. But in Tamil Nadu, all manufacturing companies and MSMEs were hit badly. Naturally, GST revenue from them took a beating,” said the official.

Read More at: https://auto.economictimes.indiatimes.com/news/industry/andhra-pradesh-tamil-nadu-see-max-gst-decline-in-q1/77324109

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