Goa has experienced significant growth in its GST revenue this year, exceeding the figures from the previous year. By November 2024, GST collections reached Rs 2,814.76 crore, reflecting a robust 9.57% increase compared to the same period in 2023.

This growth underscores the state’s dynamic economic activity and effective fiscal measures. Additionally, the number of registered taxpayers has steadily increased, now surpassing 45,000 indicating broader economic growth.

Behind this progress is a strong emphasis on digitisation and compliance. The Goa government’s digital tracking system ensures that every sale transaction is recorded, reducing leakages and improving GST collection efficiency. Chief Minister Pramod Sawant has led targeted reforms in VAT compliance and introduced initiatives such as the Amnesty Scheme for the initial GST years. These measures, along with simplified compliance processes, have created an environment conducive to business growth, ensuring that GST revenues continue to rise.

Tourism has long been a key driver of Goa’s revenue, and its recovery post-pandemic has played a crucial role in supporting GST growth. In addition to tourism, Goa’s manufacturing sector has also seen a boost, driven by increased production and consumption during key seasons, such as the festive period.

Published on December 22, 2024