SHILLONG, Dec 1: Meghalaya’s economic landscape has encountered a challenging phase, marked by a sharp decline in its Goods and Services Tax (GST) revenue growth. November 2024 saw a significant drop, with the state’s GST collections falling by 12%, from Rs 163 crore in November 2023 to ₹144 crore this year.
Despite the overall decline, the state’s pre-settlement SGST (State Goods and Services Tax) collections showed a modest increase. For the fiscal year 2024-25, these collections grew by 3%, reaching Rs 407 crore, compared to Rs 394 crore in 2023-24.
However, the broader post-settlement GST, which includes the SGST portion of IGST (Integrated Goods and Services Tax) settled by the Centre, paints a mixed picture. Meghalaya recorded an 8% increase in post-settlement GST collections, from Rs 1,103 crore in 2023-24 to Rs 1,187 crore in 2024-25. While this represents positive growth, it is notably slower than the double-digit increases observed in previous years. Other Northeastern states, including Sikkim, Assam, Tripura, and Mizoram, have reported stronger growth rates of 52%, 25%, 18%, and 16%, respectively.
In Meghalaya, GST revenue growth for 2024-25 (up to November 2024) compared to 2023-24 (up to November 2023) reflects a general slowdown. Central GST collections have declined by 10.8%, while state-level collections have dropped by 8.3% as of November 2024.
Gross GST collections in the country grew 8.5 per cent to over Rs 1.82 lakh crore in November on higher revenues from domestic transactions. The CGST collection stood at Rs 34,141 crore, SGST at Rs 43,047 crore, IGST at Rs 91,828 crore and cess at Rs 13,253 crore, showed government data.
