Haryana sees over 200,000 new registrations under GST

Haryana finance minister Captain Abhimanyu on Tuesday said that more than 200,000 new registrations have been recorded under goods and services tax (GST) in the state since its nationwide rollout in July 2017, adding to the existing base of 225,000 taxpayers under the erstwhile VAT system.

The minister said the progress of implementation of GST is constantly reviewed in the state, while extensive training programmes are being conducted for all stakeholders.

Important Difference between Composition and Regular scheme

According to Abhimanyu, Rs 36,815 crore was collected from the state under state GST, CGST, IGST and cess for the eight months of GST implementation during 2017-18, amounting to an average of Rs 4,601 crore per month. In 2018-19, the state collected Rs 55,231 crore under these heads, contributing Rs 4,602.56 crore per month on an average.

With regard to state GST, Haryana collected Rs 10,178 crore, including provisional IGST settlement in the financial year 2017-18.

Transportation of passengers under GST Regime

Abhimanyu said that the protected revenue of the state for 2017-18 was Rs 13,200 crore. Total shortfall of state GST revenue after taking into consideration the recoveries of erstwhile VAT and CST was Rs 1,933 crore in 2017-18. The state received Rs 1,199 crore from compensation and Rs. 667 crore from provisional IGST settlement during this period.

The total collection for Haryana under all the GST Acts was Rs 55,231 crore compared with Rs 11,77,370 crore for all the states.

Based on the census data 2011, the per capita GST collection for Haryana stands at Rs 21,744.49. In comparison, the national per capita GST collection is Rs 9,370.33, which is about 2.5 times the national average.

Impact of GST on Travel and Tourism Sector

With regard to state collection under GST, Haryana collected Rs 16,541 crore, including provisional IGST settlement, in the financial year 2018-19. The average per month collection of SGST has gone up from Rs 1,272 crore to Rs 1,378 crore, an increase of about 8.33%.

The protected revenue for this period was Rs 22,560 crore (Rs 1,880 crore per month). The state received a compensation of Rs 2,820 crore and ad-hoc IGST settlement of Rs 2,476 crore in this financial year, he said.

Source:Economic Times

Tags: blog, News

Related Articles

No results found.

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed