Panaji: Goa’s latest Goods and Services Tax (GST) numbers for Oct dropped on Sunday and the month turned out to be quite a lucrative month for the state exchequer. Post-settlement SGST (state GST) figures indicate that Goa climbed to Rs 535 crore in Oct, registering a solid 37% growth from the previous year’s Rs 390 crore.The data shows that the state’s economy has been humming along rather nicely with a neat total GST revenue of Rs 687 crore for the last month, which marks a 27% jump compared to the Rs 543 crore the state pulled in during the same month last year.Union govt also released Rs 1,09,019 crore to state govts as one advance instalment of tax devolution in view of the upcoming festive season and to enable states to accelerate capital spending and finance welfare-related expenditure. Goa received Rs 398 crore.Goa’s GST revenue, propped up by festive spending and the commencement of the tourism season, compares well against other smaller states, like Sikkim, which saw collections dropping by 28% to Rs 221 crore in Oct from Rs 307 crore in the previous year.The total GST collected since April 1 has hit Rs 3,094 crore, which is 23% more than the Rs 2,525 crore from the corresponding period last year.To put things into perspective against broader economic movements, Goa’s performance comfortably outstripped the national average trends. Across the country, total gross GST revenue for October stood at Rs 1,59,044 crore, registering a growth rate of roughly 16% compared to the previous year. With Goa surging ahead at a 27% clip, the state is punching well above its weight class nationally.
