Chief Minister Devendra Fadnavis announced that Maharashtra tops the nation in Goods and Services Tax (GST) collection, receiving significant benefits from the Central Government in return. He emphasized Maharashtra’s pivotal role in the GST system, noting its establishment of an Artificial Intelligence-based system to combat tax evasion. Fadnavis praised GST as a transformative reform, unifying India into a community of honest indirect taxpayers and streamlining the tax structure across the country.
Maharashtra, under the leadership of Prime Minister Narendra Modi, successfully implemented GST, resolving challenges faced by both administration and traders due to multiple tax filings and evasion issues. The Central Government assured states of revenue compensation under GST, ensuring a 14% growth rate for the subsequent five years. Fadnavis highlighted the launch of ‘GST 2.0’ to enhance the system’s efficiency and transparency, with the GST Council playing a crucial role in decision-making.
The GST Council, a cornerstone of the system, has reduced tax slabs for essential items and those vital to Micro, Small, and Medium Enterprises (MSMEs). The Goods and Services Tax Network (GSTN) has revolutionized tax revenue management within the GST framework, showcasing digital innovation in the twenty-first century. Maharashtra, known for its service sector, has greatly benefited from the inclusion of services under GST, receiving a substantial GST return of Rs 1,87,000 crore in the previous fiscal year.
