GST Collection: Maharashtra, with a 19.6 per cent share in all-India Goods and Services Tax (GST) collection in fiscal 2024 (April-February), is the top contributor to the GST pool, as per latest data on collections across Indian states, cementing its position as the country's economic powerhouse. A Crisil report released on April 11 reveals that after Maharashtra, Karnataka was the second biggest contributor to the GST pool.
GST Collection: Maharashtra, with a 19.6 per cent share in all-India Goods and Services Tax (GST) collection in fiscal 2024 (April-February), is the top contributor to the GST pool, as per latest data on collections across Indian states, cementing its position as the country's economic powerhouse. A Crisil report released on April 11 reveals that after Maharashtra, Karnataka was the second biggest contributor to the GST pool.
"Maharashtra's dominance is not just in terms of absolute GST collection, but also when looked at from a per capita perspective," said the report, titled Quickonomics by Crisil. "Normalized for population size, Maharashtra tops the ranking, indicating the intensity of consumption spending in the state."
Contrast with low income states
Additionally, the Crisis analysis showed that the top three states with the highest per capita consumption spending are Maharashtra, Karnataka, and Haryana. While the bottom three slots are occupied by Bihar, Uttar Pradesh, and Jharkhand.
Uttar Pradesh, West Bengal, and Rajasthan were down in the order when analyzed on a per capita basis, indicating that while these states may have high absolute GST collections, their per capita consumption spending is relatively lower.
Haryana, Telangana, Kerala, and Punjab moved up in the rankings on per capita spending, indicating higher average consumption spending per individual.
The report also added that states with higher per capita income, like Telangana (Rs. 3,44,219), tend to have higher average consumption compared to states with lower per capita income, like Bihar (Rs. 59,639).
Despite the significant difference in per capita income between Telangana (richest in the sample) and Bihar (lowest in the sample), their average GST collection growth over the past five years (fiscal 2020 to fiscal 2024) is quite similar. Telangana recorded a growth rate of 14.7 per cent while the figure for Bihar' was 15.6 per cent.
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