Sunday 21 July 2024

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Economy | Budget

GST may take Goa’s tax revenue up by 25%


Chief Minister Manohar Parrikar’s budget may turn out to be a huge surplus as Goa is eying for not less than Rs 2000 crore once the GST regime begins.

Though it has not figured in the budget Parrikar presented today, he hopes that Goa would accrue minimum Rs 1200 crore from the Goods and Services Tax once the bill passed by the Lok Sabha is through.

“Our revenue would rise by 25% once the GST regime begins”, the chief minister told the media after presenting the budget.

According to him, Goa presently collects almost Rs 1600 crore towards service tax and excise at the rate of 12%.

It could go up to Rs 2000 crore at the rate of 18%, he adds.

Out of this, informs Parrikar, the service tax alone amounts to around Rs 1000 crore.

There are also many business firms which presently pay the ST in Mumbai, but will have to pay it in Goa once GST comes into force.

This would obviously take the present figures higher. is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.

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Goans Loves Congress and BJP. They have given 17 Seats for Congress and 13 Seats for BJP. Total 30 Seats Goans have given to Congress & BJP.

Goans don’t love honest AAP.

Jack De Goan , Goa