Panaji (Goa): The State Government is expecting the revenue of State by way of Goods and Service Tax (GST) to go up by 5-7 percent by end of the current financial year 2017-18.

Chief Minister Manohar Parrikar said that the GST collection has been better compared to that of Value Added Tax (VAT). He said that for the current financial year ending March 31, the total revenue collection including GST will cross Rs 3200 crore, while another Rs 400 crore will be added to that in form of compensation from the Centre.

Last financial year, the revenue collection was Rs 2950 crore, he added.

“Hence, a growth of 5-7 percent in the revenue collection by way of GST is expected by end of this financial year,” Parrikar stated.

Chief Minister informed that up to January 23, the total State GST collection stood at Rs 112 crore by and the VAT collection was Rs 99.98 crore. “We expect State GST to touch 230 crores by end of the month,” he said.

Team TNV