Panaji, Dec 20 (PTI) Goa’s GST collection has risen impressively in the current fiscal, with figures touching Rs 2,814.76 crore by November, a 9.57 per cent increase compared to the same period last year, an official has said.
Speaking to PTI Videos, Additional Commissioner of State Tax Vishant Naik Gaunekar said the growth in GST collection reflects the revival of key sectors such as tourism, real estate and manufacturing, alongside effective state policies fostering economic activity.
He also said there has been a consistent increase in the number of registered taxpayers, reflecting Goa’s expanding economic activity and the effectiveness of its compliance measures.
In FY 2023-24, the state recorded 12.51 per cent growth in the Goods and Services Tax (GST) revenue, he stated.
“For the current fiscal year, the year-to-date figures (April-November 2024) show GST revenue at Rs 2,814.76 crore, reflecting a robust 9.57 per cent growth compared to Rs 2,568.99 crore during the same period last year,” Gaunekar said.
He pointed out that May and June (2024) saw a decline in revenue growth compared to the previous year, primarily due to decreased business activity during the general elections.
“However, the subsequent months have seen a more than satisfactory recovery, leading to an overall positive growth of 9.57 per cent,” he added.
Gaunekar further said there has been a consistent increase in the number of registered taxpayers in the coastal state.
“The GST registration base has grown to 45,317 in 2024-25. The VAT registrations have also seen a sharp increase to 8,050 in 2024-25, driven by targeted reforms in VAT compliance and registration policies,” he said.
In order to increase the registration base, the Goa Value Added Tax (Second Amendment) Act-2005 eliminated the Rs 10 lakh turnover threshold for liquor dealers, mandating registration for all liquor and petroleum dealers, the official said.
He also said that Chief Minister Pramod Sawant raised the issue of small businessmen who were unable to file their GST returns on time due to the COVID-19 pandemic, financial difficulties or technical issues.
“These delays had led to the denial of their input tax credit (ITC) claims under Section 16(4) of the GST Act, creating financial stress for taxpayers,” Gaunekar added.
Sawant proposed that the time limit under Section 16(4) be relaxed for returns from FY 2017-18 to FY 2020-21, allowing ITC claims for delayed returns filed on or before November 30, 2021.
“The GST Council accepted this proposal and agreed to amend Section 16(4) accordingly. This decision will benefit approximately five lakh taxpayers across India, including those in Goa, by preventing interest liability on denied ITC,” the official said.
On the Amnesty Scheme for initial GST years, Gaunekar said CM Sawant supported the scheme to waive interest and penalties under Section 73 of the GST Act for assessment orders pertaining to the initial three GST years: FY 2017-18, FY 2018-19, and FY 2019-20.
“Taxpayers will only be required to pay the tax amount demanded under these assessment orders, relieving those who missed portal notifications due to unfamiliarity or oversight,” he said.
Tourism remains a significant contributor to the GST in the form of both direct and indirect taxes.
It contributes to the GST through multiple verticals, including hotels, restaurants, events and water sports, Goa’s Tourism Minister Rohan Khaunte said.
“These diverse contributions ensure that GST supports the economy,” Khaunte said.
The minister said that “easy compliance” has two key aspects – driving GST office efficiency and promoting digitisation.
“This has facilitated the ease of doing business and helped people comply with various norms, contributing to growth,” he said.
Business expert and National Council for MSMEs member Manguirish Pai Raikar said Goa is leading the way in terms of GST collection growth, which is a source of pride for the coastal state.
He pointed to various festive seasons and events like the ongoing decennial exposition of the holy relics of St Francis Xavier as factors driving purchases in Goa.
“Additionally, the manufacturing sector has increased production and consumption has risen, which contributed to the increase in GST figures,” he said.
Raikar also highlighted the role of digital transformation in reducing leakages.
“Thanks to the digital tracking of each sale transaction, the state was able to ensure that GST was collected properly,” he added. PTI RPS GK GK NR
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