Meghalaya has seen growth of GST revenue during June 2022.
According to the Finance Ministry, the State’s GST revenue for June this year was Rs 153 crore which is a jump by 46 per cent compared to the GST revenue collected in June 2021 which was Rs 105 crore.
Of all the North East states, Manipur registered the highest jump of 79 per cent of GST revenue. In June this year, the collection was Rs 39 crore as compared to Rs 22 crore in June 2021
It was followed by Arunachal Pradesh at 77 per cent increase in GST revenue collection which was Rs 59 crore as compared to Rs 33 crore in June 2021.
Mizoram saw an increase of 49 per cent of GST revenue which was Rs 26 crore in June this year against Rs 17 crore in June last year.
Tripura and Assam recorded an increase of 47 per cent in GST collection from last year.
The GST collection from Tripura in June this year was Rs 63 crore as compared to Rs 43 crore in June last year. Assam’s GST revenue for June this year was Rs 972 crore as compared to Rs 662 crore in June 2021.
Sikkim saw an increase of 21 per cent in GST revenue this June which was Rs 256 crore compared to Rs 212 in June last year.
The lowest jump is that of Nagaland which was only 11 per cent. The State collected Rs 34 crore in June 2022 compared to Rs 30 crore in June 2021.
It may be mentioned that the gross GST revenue collected by the Government of India from all states and union territories in the month of June 2022 is Rs 144,616 crore of which CGST is Rs 25,306 crore, SGST Rs 32,406 crore, IGST Rs 75,887 crore (including Rs 40,102 crore collected on import of goods) and cess is Rs 11,018 crore (including Rs 1197 crore collected on import of goods).
The government has settled Rs 29,588 crore to CGST and Rs 24,235 crore to SGST from IGST. In addition, Centre has also settled Rs 27,000 crore of IGST on an ad hoc basis in the ratio of 50:50 between Centre, states and union territories in this month.
The total revenue of Centre and the states in the month of June 2022 after regular and ad hoc settlement is Rs 68,394 crore for CGST and Rs 70,141 crore for the SGST.
The revenues for the month of June 2022 are 56 per cent higher than the GST revenues in the same month last year of Rs 92,800 crore. During the month, revenues from import of goods was 55 per cent higher and the revenues from domestic transactions (including import of services) are 56 per cent higher than the revenues from these sources during the same month last year.
This is the fifth time the monthly GST collection crossed Rs 1.40 lakh crore mark since inception of GST and fourth month at a stretch since March 2022. The collection in June 2022 is not only the second highest but also has broken the trend of being a low collection month as observed in the past.
