SGST revenue of 6 biggest states up 19% in FY23
Maharashtra has seen the maximum growth in SGST collection followed by Uttar Pradesh.
Maharashtra has seen the maximum growth in SGST collection followed by Uttar Pradesh.
October saw the second highest collection from domestic transactions, next only to April 2022.
With stagnated "own tax revenue", states face double whammy as GST compensation on which they continued capex push had ended and Centre's tax collection is set to dip in FY23.
The data available so far does not instil confidence with respect to GST achieving or is on course to achieve its key objectives, says India Ratings & Research.