High GST Revenue Collection in Punjab, HP & Odisha State in July 2021

Punjab has Reported a 29% YOY Rise in GST revenue in July

The revenue consists of the state GST, central GST, and Integrated GST raised to Rs 1533 cr in July 2021 with respect to the same month of the last year which was Rs 1188 cr as per the tax department. The SGST and IGST Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings and adjustments of input tax credit under GST in India hold at Rs 1455.85 cr in July 2021 which mentioned that 32% YOY rise as compared to Rs 1103.31 cr accumulated in the previous year of the corresponding month which directs that rectification is in process of the economy. GST revenue up to the July month is 85.28% more than the relevant month in the last year.

“The state is rigorously monitoring bogus billing and unscrupulous trade practices through effective enforcement. Besides the use of advanced data analytics from multiple sources and sector-wise study of modus operandi of tax evasion, the holistic and effective tax administration has contributed to the robust increase in tax revenue, stated the tax department.”

In the month of July, Value Added Tax (VAT) and CST revenue is seated at Rs 692.44cr and Rs 28.76 cr correspondingly which stood at a per cent of nearly 48.85% and 62.49% YOY rise. The spokesperson of the tax department stated that there is a rise in the sale of automobiles and real estate which is rising along with that there is a rise in cement and iron steel segment.

“Service sector especially hospitality, tourism, and food sector, which was worst hit by the Covid-19 pandemic, has also shown some recovery, as per the official release.”

In the Month of July, Himachal Pradesh Marks a 50.7% Surge in GST Collection

On August 3 (UNI) Hamirpur in HP is enroll 50.7% in July 2021.
The GST accumulated in this month is Rs 473.81 cr which is the highest GST collection since the start of the month.

The cumulative GST collection is July 2021 now stands at Rs 1301.03 cr. the state obtained Rs 705.26 cr in the relevant month in the previous fiscal year.

The tax council stated that some of the causes to rectify the GST collection raise the business activities in the state, rectification in the return filing as a result of the better tracking of the assessee, and excellent enforcement activities through the council. UNI XC RHK0041.

Odisha Posses 54% Growth in GST Revenue

With 54% Odisha places a record on GST collection in July 2021 with respect to the respective period of 2020. While in July 2021 Rs 3615 cr we obtained on GST, it is Rs 2348 cr in July 2020.