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Sunday, 17 January 2021

33.3% drop in GST collection in Faridabad

Tribune News Service

Faridabad, January 16

Faridabad, one of the leading contributors of revenue (GST) in the state, has registered a sharp drop of 33.3 per cent till December 2020 in comparison to the corresponding period of 2019.

It is being attributed mainly to the Covid crisis and the lockdown, which led to disruption in the manufacturing and sale of industrial and commercial products.

The district sales tax department has collected a total of Rs 1,738 crore in the nine-month period between April and December 2020, which is Rs 867.85 crore lower than Rs 2,605.85 crore collected in the same period of 2019, according to details available from the Department of Excise and Taxation here.

However, according to officials, the revenue collection in December 2020 surpassed the revenue collected in the corresponding period of 2019 by a margin of Rs 5.1 crore. The monthly collection in December 2020 has been Rs 288.49 crore against 283.39 crore in 2019.

The collection in November 2020 remained Rs 21.35 crore less than the collection of Rs 298.10 crore of November 2019, according to official figures.

Ascribing the downfall to lockdown conditions and lower manufacturing and sales activities since April last, Ravinder Singh, Deputy Excise and Taxation Commissioner, said that though the collection is expected to rise, the overall figures are likely to remain lower this financial year (2020-21).

The GST collection had declined by 60.94 per cent in the first quarter (April to June) of the current financial year (2020-21). It was only Rs 277.96 crore in comparison to Rs 899.01 crore of 2019-20.



from The Tribune https://ift.tt/2LEoqky

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