Hyderabad: Hit hard by a Covid-19-induced economic slowdown, Telangana SGST (state tax and service) income in May and June has dropped to 1,700 crore rs.
Details accessed by TOI from the center show that the state gets SGST in the amount of 1,460 crore in April, while the SGST collection in May and June each remains the same at Rs 850 Crore.
Despite falling sharply in the SGST collection, experts show that the country’s economy has witnessed the recovery of V.
“V-shaped recovery means immediate recovery, where unmet requests in each region will rise again, take financial to normal levels as soon as possible.
GST collection It has been good at Telangana, is a matter of time that will rise back to normal, “said K Narsimha Murthy, Director, National Stock Exchange, and financial experts.
Because non-uniformity in tax collection, the state receives fewer GST compensation since 2017, but now the gap has widened longer.
Even when SGST declined, there was a decrease in the CGST collection too.
The collection around Rs 1,100 Crore in April, but dropped to around Rs 650 Crore in May and June.
Among the four components, SGST compensation and IGST fall into the country Kitty.
The country should also receive around RS 925 Crore IGSP compensation in June.