THIRUVANANTHAPURAM: In a significant relief to the cash-strapped state, overall tax collection, including Goods and Services Tax (GST), has shown robust growth in the current fiscal year. Kerala’s GST collections witnessed a remarkable increase of 18.13 per cent year-on-year (YoY) during the first four months of the current fiscal. Until July 2023, the state’s gross GST collection reached Rs 10,606.75 crore, a substantial rise from Rs 8,978.67 crore in the previous year.
Data released by the Union Ministry of Finance on Tuesday revealed that the state’s GST revenue for July 2023 amounted to Rs 2,534 crore, marking a 17.26 per cent increase compared to the same month in the previous year. During the April-June period this year, Kerala’s tax revenue from petroleum products and liquor also showed positive growth.
Collections from the liquor trade rose from Rs 2,742.01 crore to Rs 2,820.9 crore, representing a year-on-year growth of 2.88 per cent. The Kerala State Beverages Corporation alone contributed Rs 2,662.89 crore to this collection, while tax collection from bar hotels was Rs 115.14 crore.
Revenue from petroleum products reached Rs 2,146.29 crore until June this year, compared to Rs 2,098.19 crore in the corresponding period last year. Despite the fuel cess of Rs 2 per litre of diesel and petrol that came into effect in April 2023, there was a YoY increase of 2.3 per cent.
The total collection from Kerala General Sales Tax, applicable for petroleum products, ATF, and liquor, in the first four months, was Rs 4,969.98 crore, as against Rs 4,843.53 crore in the corresponding period last year. The state’s total tax collection, including GST, KGST, and VAT, reached Rs 13,117.42 crore until June of this financial year, showing a 6.58 per cent increase from the previous year.
The Intelligence wing of the State GST department successfully recovered D965.30 crore until 30th June of this financial year. During this period, the wing registered 199 new cases. Additionally, the Enforcement Squad collected D 6.29 crore as a penalty and fine, while booking a total of 1043 cases and inspecting 1.95 lakh vehicles.