This will impact finances of the two states in FY20, especially when the share of states in corporation taxes will fall due to corporation tax cuts
The people of Maharashtra and Haryana will cast their vote on Monday, to elect a new legislative assembly. Little do they know that states they belong to have suffered the most among all states in terms of goods and services tax (GST) collection this year.
The state GST (SGST) collection of the two states in June 2019 was the lowest ever recorded (second lowest ever for Haryana). This includes Integrated GST (IGST) settlement.
Source- Business Standard.