GST collection grown by 67% in first quarter of current financial year

GST collection grown by 67% in first quarter of current financial year

A spokesperson of the State Taxes and Excise department informed here today that the GST collection in the State has grown by 67% in the first quarter of the current financial year with the collection of Rs. 1385 crore against Rs. 831 crore collected during the same period of last financial year.

He said that as regards, the revenue collection during June, 2022, the GST collection has grown by 58% as compared to the corresponding month of last financial year. He said that in June, 2022, the GST collection has stood at Rs. 372 crore whereas during June, 2021, the collection was Rs. 235 crore only.

The high growth is partly the result of various policy and administrative measures taken by the Department of State Taxes & Excise to improve taxpayer compliances and strengthen enforcement related activities. The second important reason for the growth is GST return related relaxations provided in the first three months of the last financial year. The relaxations provided to mitigate the adverse economic impact of second wave of COVID-19 had resulted in lesser GST collections during the comparative period in the previous year, he added.

The spokesperson said that the department is targeting an annual growth of around 25% in the current financial year. Continuous improvement in return filing, speedy scrutiny of returns, timely completion of GST audits and strengthened enforcement continue to be focus areas for the department. The department has targeted to improve upon approximately 2.5 lakh e-way bill verifications done in road checking drive by the department in the previous year. It remains committed to improve voluntary compliance with time bound redressal of the issues of the stakeholders under “Tax Haat Program”, he added.

He said that the State Government has recently approved establishment of the GST training cell in the department for continuous capacity building of Tax officers. The implementation of the Departmental Restructuring principally approved by the State Cabinet alongside well trained tax officers are expected to help the department in achieving the revenue target.

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