Punjab’s July GST collection plunges 9.26% - ECAS Punjab

Punjab’s July GST collection plunges 9.26%

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Chandigarh, August 4

The Punjab Government on Monday said the gross GST revenue collection for July had declined than that for the same period last year.

A spokesperson for the state taxation commissioner's office said the GST collection stood at Rs 1,103.31 crore in July against Rs 1,215.99 crore collected in the corresponding period last year, thereby registering a decline of 9.26%.

The state's gross GST revenue collection for this year's April-July period stands at Rs 2,643.28 crore in comparison to Rs 4,252.03 crore for the similar period of last year, thereby denoting a fall of 37.83%.

Pointing out further, the spokesperson said the protected revenue for July this year is Rs 2,403 crore against which the state has collected and received Rs 1,103.31 crore that corresponds to approximately 46% of the protected revenue. Thus the compensation due for July is Rs 1,299.69 crore.

The state has received Rs 1,077.35 crore as compensation for March during July. Further, the amount of compensation due for the April-June period is Rs 5,669 crore which is still awaited. — TNS



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