Mumbai: The state revenue of the state that lacks cash has shown signs of recovery after the rock sidewalk was appointed in June, but the pandemic had left the mark.
In a seven-month period between April-October this year, the state has managed to collect only 41% of its annual income target.
The latest data shows that until October-end, the state has collected Rs 1.51 lakh crore from the annual target of RS 3.69 lakh crore.
State income collection is dipped between September and October, especially because the country has received a large tranche of GST compensation from the center in September.
This is worth Rs 3,945 Crore.
However, the tax collection rose in October compared to the previous month.
In October, the state collected taxes worth 17,705 crore compared to RS 16,282 Crore previous month.
In seven months until now, the country has fulfilled 43% of the tax collection target for this year.
In October, the collection of stamp duty and registration fees, which reflect real estate transactions, higher.
This increased to Rs 2,866 Crore in October from 2,640 crores in September.
However, the vehicle tax collection was dipped from Rs 833.6 Crore in September to RS 749 Crore in October, despite the incidence of the celebration season.
Observer said vehicle purchases were influenced by the increase in fuel prices.
The State GST collection surged in October, recorded the second number for this year, with the emergence of celebration and release of hidden requests.
“Revenues are expected to increase during the celebration season and in the last quarter of this year.,” Said a senior official.
Maha collects only 41% of revenue targets until October
