Chandigarh, January 3: The total GST collection for the month of December 2020 is Rs. 1067.21 crores whereas it was Rs. 1009.03 crores for the month of December 2019 thereby indicating an increase of 5.77 per cent.
According to a spokesperson of Punjab Taxation Commissioner's Office, the gross GST revenue collection for Punjab for the period April to December 2020 stands at Rs. 7881.5 crore in comparison to Rs. 9851.82 crore for the similar period of last year thereby denoting a fall of 20 per cent.
Pointing out further, the spokesperson said that the protected revenue for the month of December 2020 is Rs. 2403 crore against which the State has collected and received Rs. 1067 crore that corresponds to approximately 44.4 per cent of the protected revenue. Thus, for the month of December 2020 the amount of compensation due is Rs. 1336 crore. Further, the cumulative amount of compensation due for the period April to November 2020 is Rs. 8856 crores.
The Spokesperson further said that the National Gross GST revenue collection during the month of December 2020 is Rs. 1,15,174 crore whereas the national gross GST revenue collection during the month of December 2019 stood at Rs. 1,03,184 crore denoting an increase of 12 per cent.
National gross GST revenue collection for the 3rd quarter i.e. October to December 2020 is Rs. 3,25,292 crore in comparison to Rs. 3,02,055 crore for the similar period last year thereby denoting an increase of 7.7 per cent.
In addition to GST, the State of Punjab also collects tax revenue from VAT and CST regime. Major contributors to VAT and CST collection are alcohol for human consumption and five petroleum products which are outside the ambit of GST. For the month of December 2020, the total VAT and CST collection is Rs. 671.12 crores whereas it was Rs. 517.08 crores for the month of December 2019 thereby indicating an increase of 29.79 per cent
The VAT and CST revenue collection for Punjab for the period April to December 2020 is Rs. 4474.02 crores in comparison to Rs. 4137.59 crore for the similar period last year thereby denoting an increase of 8.13 per cent.
The GST, VAT and CST put together, the tax collection during December 2020 (Rs 1738.33 crore) over December 2019 (Rs. 1526.11 crores) is up by Rs. 212.22 crores (+13.90 per cent).
The GST, VAT and CST collective revenue collection for the 3rd quarter i.e. October-December 2020 is Rs 5168.48 crore in comparison to Rs. 4474.15 crore for the similar period last year thereby denoting an increase of 15.51 per cent.
The Spokesperson further said that the average growth in GST revenues during the last quarter has been 4.38 per cent as compared to -11.06% during the second quarter and -52.65% during the first quarter of the financial year.
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Comparison of GST Revenue collections of Punjab:-
Month 2019 2020
April Rs.1304.13 crore - Rs. 156.28 crore
May Rs.998.13 crore - Rs. 514.03 crore
June Rs.950.36 crore - Rs. 869.66 crore
July Rs.1548.15 crore - Rs.1103.31 crore
August Rs.1014.03 crore - Rs. 987.20 crore
September Rs. 974.96 crore - Rs. 1055.24 crore
October Rs.929.52 crore - Rs.1060.76 crore
November Rs.1122.93 crore - Rs.1067.81 crore
December Rs. 1009.03 crore - Rs. 1067.21 crore
Comparison of GST revenue collections of Punjab (Quarter Wise):-
Quarter 2029 2020% Increase/Decrease
APRIL -JUNE(Q1) 3252.62 1539.97 -52.65
JULY -SEPTEMBER(Q2) 3537.14 3145.75 -11.06
OCTOBER –DECEMBER(Q3) 3061.48 3195.78 4.38