India, Sept. 22 -- With the new slab structure for the goods and services tax (GST) set to roll out from Monday, the Maharashtra government expects an annual drop in revenue by over 7% or Rs.10,000 to Rs.12,000 crore. The major losses are expected to be in the automobile and electronic industries, where Maharashtra is a leader both in production and consumption.

The state government had set a target of Rs.2.46 lakh crore from GST and sales tax, a rise of over 20% from its collection in Financial Year 2024-25. The GST collection till July end had crossed Rs.57,970 crore against the annual target of Rs.1.76 lakh crore. Maharashtra accounts for over 14% of the country's collection, and more than double the collection of Karnataka, which is ...