Punjab gets over Rs 1,055 crore GST collection in September, 8.23% more than Sept 2019

CHANDIGARH: Punjab was able to collect the gross Goods and Services Tax (GST) revenue of Rs 1,055.24 crore in September. This collection was Rs 974.96 crore, 8.23% less, in September last year.
According to the Punjab taxation commissioner’s office, the gross GST revenue collection for Punjab for April to September stands at Rs 4,685.72 crore in comparison with Rs 6,790.34 crore for the similar period last year. This denotes a fall of 31% in collection of GST this year.
Whereas, the national gross GST revenue collection during September is 4% higher than what was collected in the same month last year. Also, the national gross GST revenue collection from import of goods as well as from domestic transactions (including import of services) stands at 102% and 105% respectively of the figures for the same month last year. The national gross GST revenue collection for April to September is Rs 4,54,591 crore in comparison with Rs 6,06,293 crore for the similar period last year. This denotes a decline of 25%.
For September, the total value added tax (VAT) and central sales tax (CST) collection is Rs 462.98 crore in Punjab, whereas it was Rs 332.32 crore for September last year. This indicates an increase of 39.32%. The VAT and CST revenue collection for Punjab for April to September is Rs 2,499.77 crore in comparison with Rs 2,729.47 crore for the similar period last year. This denotes a decrease of 8.42%.
The protected revenue for September is Rs 2,403 crore for Punjab against which the state government has collected Rs 1,055.24 crore that corresponds to approximately 43.91% of the protected revenue. Thus, for September, the amount of compensation due is Rs 1,347.76 crore. Whereas, the cumulative amount of compensation due for April to August, is Rs 10,338 crore. Out of this Rs 838 crore is received in the first week of October and Rs 9,500 crore is still awaited.
The department spokesperson said the national gross GST revenue collection during September is Rs 95,480 crore of which CGST is Rs 17,741 crore, SGST is Rs 23,131 crore, IGST is Rs 47,484 crore (including Rs 22,442 crore collected on import of goods) and cess is Rs 7,124 crore (including Rs 788 crore collected on import of goods). But the national gross GST revenue collection during September 2019 stood at Rs 91,916 crore of which CGST was Rs 16,630 crore, SGST was Rs 22,598 crore, IGST was Rs 45,069 crore (including Rs 22,097 crore collected on imports) and cess was Rs 7,620 crore (including Rs 728 crore collected on imports).