Assam GST revenue dips by Rs 341 crore in June
While GST collections totaled Rs 1,062 crore in May, they fell to Rs 972 crore in June. This decline has occurred at a time when floods have devastated many districts in Assam.
- Guwahati,
- Jul 03, 2022,
- Updated Jul 03, 2022, 4:25 PM IST
Assam, which is still reeling from floods, has also been hit by Goods and Services Tax (GST) shortfall, with collections in June falling by Rs 341 crore compared to May.
While GST collections totaled Rs 1,062 crore in May, they fell to Rs 972 crore in June. This decline has occurred at a time when floods have devastated many districts in Assam.
In comparison, the entire country collected Rs 1,44,614 in GST during the month of June. The GST was 56% higher than the previous year, at Rs 1,44,616 crore. GST collections in June 2021 were Rs 92,800 crore.
Since June 17, the flood situation has deteriorated noticeably, bringing general life – including businesses – to a halt.
It is worth noting that the Assam government is expected to request a Rs 1,000 crore loan from the Centre in the near future. Previously, in the month of May, the State government borrowed Rs. 2,000 crore.
The GST shortfall is expected to exacerbate the Assam government's ongoing financial difficulties.
Assam's Finance Minister, Ajanta Neog, stated in February of this year that the Assam government’s borrowings stood at Rs 1,08,000 crore.