Andhra Pradesh has recorded a significant increase in GST collections in the month of July. According to the latest figures released by the Union Finance Ministry, the state’s gross GST collections reached Rs 3,803 crore, while the net collection was Rs 2,930 crore. This is 7.5% higher than the same period last year. It is noteworthy that these are the highest collections achieved by AP since the implementation of GST in 2017. With GST collections increasing for four consecutive months, the state has stood at the first position in South India and third in the country.
What are the reasons for the growth?
According to the analysis of the Commercial Taxes Department, increased consumption of goods and services, strengthening of the tax department’s surveillance system, efficiency in IGST adjustments and increase in revenue on petroleum products. SGST collections in July this year were Rs 1,226 crore higher than last July, a growth of 14.47%. The state received Rs 1,704 crore through IGST adjustments, a growth of 10.69%. Although GST collections initially declined after the coalition government came to power, official sources said that the situation changed after TDP chief Chandrababu Naidu himself conducted reviews. The growth trend is continuing, which indicates the state’s financial strength, said the Chief Commissioner of Taxation. Professional tax collections have also increased by 55%. He said that positive results are coming with increased vigilance on tax evasion.
AP records GST collections in July
