Chandigarh, Nov 5 (UNI The gross GST revenue collection for Punjab stands at Rs.1060.76 crore during the month of October, 2020 as against Rs. 929.52 crore for the corresponding period of last year thereby registering a rise of 14.12 percent.
Notably, against the fall in GST collections during the first five months of this Financial Year on account of slowdown in economic activities due to the prevailing Covid-19 scenario, the growth during the last two months is a sign of economic recovery.
According to a spokesperson of Punjab Taxation Commissioner's Office, the gross GST revenue collection for Punjab for the period April to October, 2020 stands at Rs. 5746.48 crore in comparison to Rs. 7719.86 crore for the similar period of last year thereby denoting a fall of 25.56 percent.
Pointing out further, the spokesperson said the protected revenue for the month of October, 2020 is Rs. 2403 crore against which the State has collected and received Rs. 1060 crore that corresponds to approximately 44 percent of the protected revenue. Thus, for the month of October 2020 the amount of compensation due is Rs. 1343 crore. Further, the cumulative amount of compensation due for the period April to September, 2020 is Rs. 10843 crore.
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