At Rs 4,602 cr per month, state’s GST collection impressive

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Haryana has reported an impressive GST collection of Rs 55,231 crore in 2018-19 with the monthly collection pegged at Rs 4,602.56 crore. In fact, Haryana’s GST collections fared well as compared to India’s figures of Rs 11,77,369 crore, which comes out to be 4.7 percent. This is despite the fact that while the state accounted for 1.8 percent of the national territory and only 2.09 percent of the national population. Sources said the GST collections were under four Acts the Haryana Goods and Services Tax Act, 2017, the Central Goods and Services Tax Act, 2017, the Integrated Goods and Services Tax Act, 2017 and the Compensation to States Tax Act, 2017. As far as the per capita GST collections were concerned, Haryana has reported 2.5 times higher GST collections than the national level. The per capita GST collection from the state stood at Rs 21,745, while the national per capita GST collection was pegged at merely Rs 9,370.

Excise and Taxation Minister Capt Abhimanyu said with better compliance rates, Haryana was emerging as one of the leading states in the GST collections in the country. Figures revealed that the collections from the state GST, one of the components of the total GST collections, in the 2018-19 was Rs 18,987.83 crore as against the collection of Rs 10,844.6 crore in 2017-18, recording a growth rate of 16.77 percent. The GST regime was implemented from July 1, 2017, across the nation. Meanwhile, the state also ranked very high in terms of return-filing compliance. The return compliance of the state of Haryana was 4.05 percent higher than the return compliance at the national average. The state consistently ranked among the top three most compliant states in the country. Officials said 2,47,814 new taxpayers were added to the taxpayer base of 2,02,013 under the VAT regime, taking the total assesses to 4,49,827.

Read More at: https://www.tribuneindia.com/news/haryana/at-rs4-602-cr-per-month-state-s-gst-collection-impressive/805726.html