Punjab registers second highest GST collection since rollout of central tax regime


 






The Punjab government on Wednesday said the Goods and Services Tax (GST) cash collection in November 2021 grew by 32% to ₹1,845 crore -- the second highest since the central tax regime came into force

An official spokesperson said the collection is second only to that in April 2021, but also the growth rate experienced is third highest in the country across the major states after Odisha and Kerala.

The spokesperson said the GST revenue receipts for Punjab in November stood at ₹1,377.77 crore as against ₹1,067 crore for the corresponding period of previous year i.e. November 2020, registering a strong growth of 29%. This is in line with the trend in economic recovery.

He said that the GST revenue up to November has witnessed a high growth of nearly 54% as compared to corresponding period last year.

The government claimed the high growth in GST revenue can be attributed to compliance improvement on account of both policy and administrative measures undertaken by the state government as well as the strict enforcement measures adopted in coordination with the Central tax enforcement agencies.

The deployment of effective data analysis based on machine learning and intelligent on-road detention has played an important role in detections of large tax evasion cases relating to fake invoices and enhanced compliance.

The tax collection from VAT and CST during November 2021 is ₹949.44 crore and ₹20.19 crore, respectively.

As compared to the same period last year, VAT and CST revenue collection have displayed respective growth of 28.73% and 11.49% this year. The robust growth in VAT revenue is predominantly attributable to increase in average tax rate in October, 2021 over October, 2020.

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