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Punjab, Haryana among states that record double digit growth in GST collection in Sept as compared to same month last year

Press Reporter News Service

New Delhi, October 1

The gross GST income collected in September was Rs 1.17 lakh crore that was 23 per cent larger in the identical month final 12 months.

Punjab and Haryana have been among the many states that recorded a double digit progress in GST assortment in September this 12 months as in comparison with the identical month final 12 months. Punjab’s share in GST assortment was 17 per cent larger and that of Haryana 18 per cent larger throughout the interval.

The typical month-to-month gross GST assortment for the second quarter of the present 12 months has been Rs 1.15 lakh crore, which is 5 per cent larger than the common month-to-month assortment of Rs 1.1 lakh crore within the first quarter of the 12 months.

The rise in collections was modest when in comparison with 1.12 lakh crore in August (for gross sales in July) this 12 months however this was the third successive month that the accrual has been above the Rs 1-lakh-crore mark.

The Union Finance Ministry mentioned in an announcement that these figures indicated that the economic system is recovering at a quick tempo. The expansion has additionally been as a result of anti-evasion actions, particularly motion in opposition to pretend billers. The federal government expects the constructive pattern within the revenues to proceed within the second half of the 12 months.

The upper progress in September has been primarily fuelled by 30 per cent larger accruals from imports and 20 per cent hike in home transactions, together with an import element.

The Centre had additionally launched GST compensation of Rs 22,000 crore to states to fulfill their GST income hole.

Of the overall collections, CGST is Rs 20,578 crore, SGST Rs 26,767 crore, IGST Rs 60,911 crore (together with Rs 29,555 crore collected from imports) and cess is Rs 8,754 crore (together with Rs 623 crore from imports).

The overall income of Centre and the states after common settlements in September 2021 is Rs. 49,390 crore for CGST and Rs 50,907 crore for the SGST.

 

Development in Sept ’21 over Sept ’20

State                                 Sept ’20   Sept ’21 Improve

(in Rs)

Haryana                            4,712        5,577     18 per cent

Punjab                              1,194         1,402     17 per cent

 

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