In a significant boost to Maharashtra's fiscal health, the state's Goods and Services Tax (GST) collection for FY 2024-25 surpassed expectations, establishing itself as the single largest contributor to state revenue. While other key departments struggled to meet their targets, GST collections stood out with a record Rs 2.25 lakh crore, exceeding the projected Rs 2.21 lakh crore and registering a 13.6% year-on-year growth.
According to data released by the State GST Department, GST alone accounted for Rs 1.63 lakh crore, while Value Added Tax (VAT) collections-levied on liquor and petroleum products-added Rs 59,231 crore. Professional Tax (PT) contributed Rs 3,072 crore, together forming 60% of the state's total own tax revenue. Notably, GST collections witnessed a robust 14.8% growth compared to FY 2023-24.
This performance comes at a crucial time, with the state economy navigating fiscal pressure from high-spending welfare schemes like Ladki Bahin. Departments such as Stamps and Registration, State Excise, and Transport fell short of their budgetary targets, underlining the increasing reliance on GST for state finances.
- Stamps and Registration brought in Rs 57,669 crore against a projection of Rs 60,000 crore.
- State Excise collected Rs 25,500 crore, falling short of its Rs 30,500 crore target.
- Transport Department closely met its target with Rs 14,875 crore, just above the projected Rs 14,775 crore.
Despite these shortfalls, Maharashtra's total tax revenue remained on track, thanks largely to GST's strong performance. The state's GST collection also dwarfed that of the next highest contributor, Uttar Pradesh, which reported Rs 84,200 crore for FY 2024-25-less than half of Maharashtra's tally.
At the national level, GST collections surged 9.9% in March 2025 to Rs 1.96 lakh crore compared to the same month last year, indicating increased economic activity and better compliance. Maharashtra led the pack with Rs 31,534 crore collected in March alone, marking a 14% year-on-year rise, followed by Karnataka, Gujarat, Tamil Nadu, and Uttar Pradesh.
Officials from the State GST Department hailed the performance as a "remarkable achievement," underscoring GST's role in stabilizing Maharashtra's revenue amidst economic headwinds.
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