04-06-21 Daily-Karnataka-KPSC Current Affairs

Signalling what could be in store for the State in terms of collection of Goods and Service Tax (GST) for the month of May, when the State was in lockdown, the collection fell by 42% from March while the COVID-19 pandemic was raging in Bengaluru.

The total GST collection, including cess, fell from 9,954 crore in March to 5,731 crore in April. This is expected to slide steeply in the month of May, the figures for which are expected this month. The fall in collection for April came after a record collection in the country in March.

For the State, the net collection from State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) settlement, Karnataka Sales Tax, and Professional Tax dipped from 7,123 crore in March to 4,304 crore in April a 40% decline. This is excluding the compensation received.