Kerala has posted 9% growth in the Goods and Services Tax (GST) revenue in April this year over the same period last year, according to data published by the Union Finance Ministry.
GST collection rose from ₹3,010 crore in April 2023 to ₹3,272 crore last month. The collection for a given month pertains to the consumption of goods and services in the month preceding it.
The GST revenues had shown a steady increase in 2023-24 over the previous fiscal.
Positive growth
The State had posted positive growth in all months in the 2023-24 financial year. The highest growth was recorded in June 2023 (26% over previous June) followed by December 2023 (20%). October 2023 recorded the lowest at 5%.
In 2023, the State government had completed the restructuring of the State GST department, targeting higher revenue inflow and stronger measures to check tax evasion.
According to the Medium-term Fiscal Policy, the growth momentum is expected to sustain in 2024-25 with the State’s own tax revenue projected to grow at 10.18% over the 2023-24 revised estimates. The share of Central Taxes is expected to grow at 12.20% in the current fiscal.
