Maharashtra, UP tops in GST collection in first 5 months
December 25 , 2017 2556 days 1187 0
Maharashtra and Uttar Pradesh are the top contributors among states and Union Territories in the first five months since the rollout of the GST regime.
Maharashtra tops State GST SGST collections with Rs. 18,701 crore. Tamil Nadu is at the second spot with Rs. 8,739 crore collection followed by Karnataka and Gujarat.
Maharashtra garnered Rs 3,702 crore and Uttar Pradesh collected Rs 3,549 crore through cess levied on sin and luxury goods. Karnataka ranks third followed by Chhattisgarh.
The GST regime implemented from July 1, 2017 has tax four slabs of 0, 5, 12, 18 and 28%.
Additional cess ranging from 1 to 290% is levied over and above highest tax rate of 28% on sin and luxury goods such as tobacco, cigarettes and luxury cars.
The amount collected through cess flows into compensation fund, which is used to compensate states for revenue losses on account of implementation of GST.