More than 200,000 new registrations under Goods and Services Tax (GST) were registered in Haryana since its nationwide inception in July 2017.
Haryana is faring forward and performing well under the GST regime since its commencement in 2017 and this can apparently be claimed again when the total count of newly added registration swelled to 2 lakhs.
During the transformation from the VAT tax system to GST mechanism, the base of 2.25 lakh payer was capitulated by VAT to GST. After that over 2 lakh, new individuals also got their feet wet in the GST pond.
According to Haryana Finance Minister Captain Abhimanyu, more than two lakh new registrations have been added since the outset of GST. Watchful eyes were kept on the breakthrough of GST implementation in Haryana right from its starting point in July 2017 along with the organization of extensive training programmes on a regular basis to train the stakeholders.
“Workshop, seminars, conferences and interactive sessions with the taxpayers regularly organised. The State has particularly stressed upon the expansion of the tax base,” an official statement quoted Capt Abhimanyu.
Haryana has contributed remarkably in the GST collection with a total collection of INR 36,815 crore and INR 55,231 crore under State GST, CGST, IGST and cess for the eight months of GST implementation during 2017-18 and for the financial year 2018-19 respectively.
This implies the collection of INR 4,601 crore per month on an average for the initial eight months and an average monthly collection of INR 4,602.56 crore for the financial year 2018-19.
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As far as state collections under GST are concerned, it reached to INR 10,178 crore which also includes provisional IGST settlement in the financial year 2017-18.
According to Capt Abhimanyu, the protected revenue of Haryana for the year 2017-18 was INR 13,200 crore and the total deficiency of the state GST revenue after considering the recoveries of former VAT and CST in the financial year 2017-18 was INR 1,933 crore. The state received INR 1,199 crore and INR 667 crore from compensation and provisional IGST settlement respectively during this period.
Haryana’s total collection of INR 55,231 crore under GST against INR 11,77,370 crore collection by all the states of India is a handsome contribution.
