Gross GST collection rises by 5.7%
Tribune News Service
Chandigarh, January 3
The state’s total GST collection for last December stands at Rs 1,067.21 crore, whereas it was Rs 1,009.03 crore for December 2019, an increase of 5.77 per cent.
An official in the Taxation Commissioner’s Office said the gross GST revenue collection for the state from April to December 2020 was Rs 7,881.50 crore in comparison to Rs 9,851.82 crore for the corresponding period of 2019 — a decrease of 20 per cent.
The protected revenue for December 2020 was Rs 2,403 crore, against which the state collected and received Rs 1,067 crore. This corresponds to about 44.4 per cent of the protected revenue. For December 2020, the amount of compensation due is Rs 1,336 crore. Further, the cumulative amount of compensation due from April to November 2020 is Rs 8,856 crore.
The official further said the national gross GST revenue collection in December 2020 was Rs 1,15,174 crore, whereas the national gross GST revenue collection in December 2019 stood at Rs 1,03,184 crore — an increase of 12 per cent.
The national gross GST revenue collection for the third quarter (October to December 2020) was Rs 3,25,292 crore in comparison to Rs 3,02,055 crore for the corresponding period in 2019 — a rise of 7.7 per cent.
In addition to GST, the state collects tax revenue from the Value-added Tax (VAT) and Central Sales Tax (CST) regime. Major contributors to VAT and CST collection are alcohol for human consumption and five petroleum products, which are outside the ambit of the GST.
For December 2020, the total VAT and CST collection was Rs 671.12 crore, whereas it was Rs 517.08 crore for December 2019 — an increase of 29.79 per cent
The VAT and CST revenue collection for Punjab from April to December 2020 was Rs 4,474.02 crore in comparison to Rs 4,137.59 crore for the corresponding period in 2019 — an increase of 8.13 per cent.
The GST, VAT and CST put together, the tax collection during December 2020 (Rs 1,738.33 crore) over December 2019 (Rs 1,526.11 crore) is up by Rs 212.22 crore (13.9 per cent).
