Kerala's GST collection improves to more than ₹2,700 cr YoY in July
Despite the increase, the collection is lower than previous months, indicating a fluctuating trend in GST revenue.
Despite the increase, the collection is lower than previous months, indicating a fluctuating trend in GST revenue.
Despite the increase, the collection is lower than previous months, indicating a fluctuating trend in GST revenue.
Kerala's Goods and Services Tax (GST) collection rose by 9 per cent in July compared to the same month last year, reaching ₹2,721 crore, up from ₹2,493 crore. However, the figure is lower than the collections recorded in June and preceding months.
The GST collected in the state was ₹2,856 crore in June, ₹3,210 crore in May, and ₹3,436 crore in April, indicating a steady decline since the start of the financial year. However, the figures still mark a notable improvement compared to the same period in the financial year 2024.
Moreover, Kerala's net GST revenue in the last four months declined by 2 per cent to ₹10,516 crore from ₹10,704 crore last year, following the post-settlement adjustments. These adjustments include the settlement of Integrated GST (IGST) and GST compensation, wherein the central government transfers the state's share of taxes collected from inter-state trade, known as the SGST portion of IGST, to ensure fair distribution of revenue.
According to the latest government data, in the last four months, Kerala collected ₹7,030 crore under the Central GST component, while ₹5,193 crore went to the state's coffers. Kerala currently has a total of 4,29,303 registered GST payers.
India's GST rises 7.5%
The national GST collection rose by 7.5 per cent in July to ₹1.95 lakh crore compared to ₹1.82 lakh crore in the same period last year. However, this figure represents a dip from the ₹2.36 lakh crore collected in April, ₹2.01 lakh earned in May and ₹1.85 lakh crore in June.
The total gross domestic revenue was ₹1.43 lakh crore, while revenue from imports was ₹52,712 crore.
In state-wise figures, Maharashtra retained its top position in GST collections with ₹30,590 crore in June, marking a 6 per cent year-on-year increase. Karnataka followed with ₹13,967 crore, up 7 per cent from the same period last year.
Gujarat saw a 3 per cent increase in collections, bringing in ₹11,358 crore, while Tamil Nadu posted an 8 per cent rise with ₹11,296 crore.