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Friday, 14 August 2020

Faridabad records 22% hike in GST collection this July

Bijendra Ahlawat

Tribune News Service

Faridabad, August 13

The GST collection in the district, which took a severe beating in April this year due to the lockdown, has charted a recovery path. While it has grown by over five times in the past three months (since April), the tax collection has shown a sound increase of 21.92 per cent between June and July this year.

The tax collection touched Rs 165.91 crore on July 31, against Rs 136.08 crore collected in June, according to data compiled by the Excise and Taxation department here.

According to officials, the shortfall for the period between April and July this year remains at 61.50 per cent in comparison to the corresponding period last year (2019), the revenue collection has increased by 5.22 times in the past three months. While it was recorded at a mere Rs 31.78 crore in April 2020, when the state was under lockdown due to the pandemic, the collection shot up to Rs 165.91 crore by July-end this year.

Considering the month-wise improvement, it is revealed that the collection, which was just Rs 31.78 crore in April (2020), went up to Rs 132.08 crore registering an increase of Rs 100.3 crore. However, the increase in June was just Rs 4 crore as the collection remained at Rs 136.08 crore in June. The monthly collection recorded a jump of Rs 29.83 crore, when it went upto Rs 165.91 crore in July this year. However, the total collection in the past four months (April to July) is Rs 465.99 crore against Rs 1,210.49 crore of the corresponding period of last year, is still deficient by 61.5 per cent.

Describing the sharp downfall in the overall economic activity due to the pandemic and lockdown conditions as a major reason for the poor revenue collection, Deputy Excise and Taxation Commissioner Ravinder Singh claimed that the GST collection was on the rise and was expected to make up the losses to an extent, as the economic activities had resumed already. The total revenue collection for the financial year of 2019-20 is Rs 3,513.72 crore.



from The Tribune https://ift.tt/33Z0UoX

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