In 2022-23, Maharashtra reported the highest GST collection in the nation, accounting for nearly 15% of the total. Its GST fund is also expanding at the fastest rate, with a compound annual growth rate (CAGR) that exceeds that of all other states between 2018-19 and 2022-23.
According to the most recent information, Maharashtra's GST revenue for the fiscal year 2022-23 was the highest in the country. This is more than twice as much as Karnataka's collection. Gujarat came third after karnataka.
One point to be noted is that the CAGR for maharastra was greater than that of the country's CAGR.
GST collection's have been increasingly steadily due to increase in economic activity across the country and also due to new business registrations that happen.
According to senior officials, a major factor in the state's rapid economic growth and higher GST collections was the inflow of investments. For both domestic and international investments, Maharashtra is a crucial state.