Friday, January 28, 2022

Punjab earns GST revenue of Rs. 1481.83 cr in April 2021

Punjab has earned the revenue of Rs. 1481.83 crores from GST during the month of April 2021 which is the highest ever revenue from GST for any particular month since the introduction of GST in the country during July, 2017.

Disclosing details, an official spokesperson of the Taxation Commissioner’s office said that the earlier highest monthly revenue from GST was Rs. 1216 crores which was earned during July, 2019 while the revenue from GST during April, 2020 was meagre Rs. 156 crores.

The spokesperson further pointed out that this exceptionally low collection was due to relief provided to the taxpayers in the furnishing of returns for the months of February, March and April, 2020 on account of COVID-19 and the country undergoing lockdown since 23rd March, 2020. However, it is noteworthy that the revenue earned from GST during April, 2019, which was a normal year, stood at Rs.1087.55 crores, said the spokesperson adding against April, 2019 Punjab has recorded a growth of 36% with sectors like Telecom, Iron and Steel, Electronic goods, Cement, Petroleum products (which are within GST) making important contribution to the revenue earned for the particular month.

MUST READ  India celebrates 73rd Republic Day

Meanwhile, the taxpayers of Punjab have paid GST in cash to the tune of Rs. 1924.10 crores which is another historic high as it is the highest amount of monthly collection from the State since the launch of GST. The previous highest was Rs. 1396 crores achieved in the month of November, 2020.

In addition to GST, Punjab also collects tax revenue from VAT and CST regime with major contributors being alcohol for human consumption and five petroleum products which are outside the ambit of GST. For the month of April, 2021 the total VAT and CST collection stands at Rs. 701.13 crores whereas it was Rs. 430.82 crores for the same month in 2019 thereby indicating a growth of nearly 63%. The collections from Punjab State Development Tax (PSDT) have been stable as in April,2021 the State has collected PSDT of Rs. 13.83 crores as against Rs. 13.86 crores for the same month in 2019, added the spokesperson.

MUST READ  Punjab CM warns of strict action against hoarding of oxygen cylinders

Latest news

Ash Barty storms into Australian Open final, says feels ‘unreal’

Ash Barty has become the first local woman to reach an Australian Open singles final in 42 years and described the feeling as "unreal" and "incredible". The sublime...

More heavy rain, storms expected in Victoria

More severe thunderstorms and heavy rainfall are predicted to hit Victoria today after damaging storms hit the state. Flash flooding occurred and as many as 4000 homes were left...

Changes in essential transport workforce announced in national cabinet meeting

National Cabinet noted that recent changes in isolation requirements for essential transport workers have significantly eased the pressure points for transport operators. National Cabinet also...

Mouni Roy marries Suraj Nambiar in South Indian ceremony at Goa

Actress Mouni Roy married fiance Suraj Nambiar in Goa today. The pre-wedding festivities began yesterday and this morning, the couple married according to South...

Related news

Ash Barty storms into Australian Open final, says feels ‘unreal’

More heavy rain, storms expected in Victoria

More severe thunderstorms and heavy rainfall are predicted to hit Victoria today after damaging storms hit the state. Flash flooding occurred and as many as 4000 homes were left...

Changes in essential transport workforce announced in national cabinet meeting

National Cabinet noted that recent changes in isolation requirements for essential transport workers have significantly eased the pressure points for transport operators. National Cabinet also...

Mouni Roy marries Suraj Nambiar in South Indian ceremony at Goa

Actress Mouni Roy married fiance Suraj Nambiar in Goa today. The pre-wedding festivities began yesterday and this morning, the couple married according to South...

Record intake of over 1,000 medical interns in NSW

More than 1,000 medical graduate interns have this week joined the ranks of the NSW Health system – a record number of new starters...

Ravi Bishnoi gets maiden call-up for Windies series, Kuldeep Yadav makes comeback

Young leg-spinner Ravi Bishnoi was on Wednesday rewarded with a maiden India call-up for the upcoming Twenty20 series against the West Indies. Also, senior...

NSW, Victoria see dip in Covid numbers; Sydney aged care homes cry for help

COVID-19 cases have decreased again in New South Wales, with 17,316 recorded in the 24 hours to 8pm last night. A further 29 deaths were also...

Barty Vs Keys on semifinal day today at Melbourne Park

It's women's semifinal day at Melbourne Park with American Madison Keys taking on top-ranked Aussie Ash Barty and another US player, Danielle Collins, playing...