Maharashtra Surpasses Revenue Target As GST Collection Hits Rs.2.25 Lakh Crore
When other sources of state revenue income were finding it difficult to go beyond the projections, the Goods and Services Tax (GST) collection did it with a record, proving it as the state’s primary source of revenue income. Against expectations of Rs 2.21 lakh crore, the GST collection for the last fiscal year 2024-25 registered a 13.6% growth, with collections reaching Rs 2.25 lakh crore.
The state economy, which is in rough waters due to some populist schemes such as Ladki Bahin and others, was hoping for a good revenue income generated from the last fiscal that ended on March 31. The figures of the transport department, the stamps and registration and the state excise found it difficult to meet the targets, say the figures.
The GST, the stamps and registration, the state excise and the transport departments have been the major sources of the state revenue income.
According to the State GST department, income from the GST alone in the year 2024-25 was Rs1.63 lakh crore, and it was Rs 59,231 crore from the value added tax (VAT) applicable on the sales of liquor and petroleum products. The income through the Professional Tax (PT) came as Rs 3,072 crore, bringing the total to Rs 2.25 lakh crore.
