Telangana Sets a Record for GST Collection Earning Nearly ₹5,000 Crore - News

Telangana broke a record in Goods and Services Tax (GST) revenue in April, collecting at least ₹5000 crore for the first time since the new tax regime took effect in 2017. Telangana is also one of the top six states in terms of GST collection, having amassed ₹4,955 crore in April. The state’s revenue increased by 16 percent in April compared to the same month last fiscal.
The state’s growth rate has increased significantly from 2 percent in March 2022. Besides that, April 2021 appears to be a watershed month for the state, with the state crossing ₹4,000 crore mark in GST for the first time. According to recent data, the state’s monthly income has increased by ₹1,000 crore in just 12 months. Sales tax/VAT, stamp duty, and registration fees are expected to increase by 25 percent in 2022-23, compared to revised estimates for 2021-22. After SGST (30 percent of own tax revenue), sales tax/VAT will be the second-largest source of own tax revenue in 2022-23.