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Maharashtra Tops the GST Collection

Maharashtra GST Collection

The Goods and Services Tax (GST) collection of the state of Maharashtra stands at Rs. 1.70 lakh crore. This amounts to 15% of total GST collection of all India in the financial year 2018-19. The contribution of Maharashtra is found to be the highest GST collection among all states of India. As stated by the Sudhir Mungantiwar, the cabinet minister of finance, the growth of Maharashtra is highest among all states which have positively influenced the high revenue earning. The finance minister added, “The growth of Maharashtra continues to be high. We have contributed 8% higher than the last year’s GST contribution. It again establishes that Maharashtra is the growth engine of India.”

The finance minister also noted that the difficulties in the GST system have been settled for now. He added, “Things are coming back on the path of progress. Now, GST return submissions are very easy and simple for taxpayers.We have removed all complicated windows from the GST return filing system to enable filing returns on time.”

The minister said that the per capita income in Maharashtra is also high which reflected in the growth of GST this year. Mumbai, a city in Maharashtra is the second-highest-income Indian city by GDP per capita. Mungantiwar added, “The businessmen are getting the duel benefit in this GST system. They are getting the rebate as we cut on the charges on GST. Besides, consumers are also getting the goods on a reasonable amount. This is the healthy sign of our economy.”

He also said that Prime Minister Narendra Modi has decided to convert India’s economy into a 5 trillion dollars economy. The finance minister further said, “The net of taxpayers number has been also increased from 7.79 lakh taxpayers to 15.34 lakh taxpayers this year.”

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