Thetotal revenue collection from GST, VAT and CST put together during January,2021 stands at Rs. 1733.95 crore whereas it was Rs. 1646.4 crore for the monthof January 2020 thus signifying an increase of 5.32 percent.
Thetotal GST collection for the month of January, 2021 is Rs. 1185.96 crorewhereas it was Rs. 1194.81 crore for the month of January, 2020 which showsdecrease of 0.74 percent.
Accordingto a spokesperson of Punjab Taxation Commissioner's Office, the gross GSTrevenue collection for Punjab for the period April to January, 2021 stands atRs. 9066.96 crore in comparison to Rs. 10,562.41 crore for the similar periodof last year thereby denoting a fall of 14 percent.
Pointingout further, the spokesperson said that the protected revenue for the month ofJanuary, 2021 is Rs. 2403 crore against which the State has collected andreceived Rs. 1185.96 crore that corresponds to approximately 49.35 percent ofthe protected revenue. Thus, for the month of January 2021 the amount ofcompensation due is Rs. 1217.04 crore. Further, the cumulative amount ofcompensation due with the Government of India for the period April to January,2021 is Rs. 8253 crore.
TheSpokesperson further said that the National Gross GST revenue collection duringthe month of January, 2021 is Rs. 1,19,847 crore whereas the national gross GSTrevenue collection during the month of January, 2020 stood at Rs. 1,10,828crore denoting an increase of 8 percent. The national SGST collection forJanuary, 2021 is Rs. 48,385 crore with Punjab contributing 2.5 percent of thesaid collection.
Inaddition to GST, the State of Punjab also collects tax revenue from VAT and CSTregime. Major contributors to VAT and CST collection are alcohol for humanconsumption and five petroleum products which are outside the ambit of GST. Forthe month of January, 2021 the total VAT and CST collection is Rs. 547.99 crorewhereas it was Rs. 451.59 crore for the month of January, 2020 therebyindicating increase of 21.34 percent
TheVAT and CST revenue collection for Punjab for the period April to January, 2021is Rs. 5022.01 crore in comparison to Rs. 4589.18 crore for the similar periodlast year thereby denoting increase of 9.43 percent.