22-04-21 Daily-Punjab-PPSC Current Affairs

Punjab has earned a revenue of Rs 1,481.83 crore fromGSTduring April 2021. This is the states highest revenue from GST for any particular month since the introduction of GST during July 2017.

An official of the commissioners office said the earlier highest monthly revenue from GST was Rs 1,216 crore, earned during July 2019. The revenue from GST during April 2020 was Rs 156 crore due to relief provided to taxpayers in furnishing returns for February, March and April 2020 on account of Covid-19 and the country undergoing a lockdown after March 23, 2020.

n April 2019, Punjab recorded a Growth of 36%, with sectors like telecom, iron and steel, electronic goods, cement,petroleum productswithin GST making important contributions to the revenue earned for the particular month.

In April 2021, taxpayers of Punjab paid GST in cash to the tune of Rs 1,924.1 crore, which is another historic high. The previous highest amount was Rs 1,396 crore, collected in November 2020.

In addition to GST,Punjab collected tax revenuefromVATandCSTregime withmajor contributors being alcoholand five petroleum products which are outside GST. For April 2021, VAT and CST collection stood at Rs 701.13 crore, whereas it was Rs 430.82 crore for the same month in 2019. The collections fromPunjab state development tax(PSDT) have been stable as in April 2021.