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Dehradun: After initial glitches faced in filing returns online by traders after the implementation of the Goods and Services Tax (GST) on July 1, the revenue share of the state has started getting smooth and since August, the state has collected Rs 1,844 crore.

 

According to the latest figures of the GST revenue collection of the state, in August Rs 482 crore tax was collected and in the following month, the collection witnessed a slight dip and Rs 439 crore was collected in September. Rs 426 crore and Rs 497 crore was added to the state exchequer in October and November respectively.

 

Finance minister, Prakash Pant said that the GST as a system is beneficial for both traders and consumers. “The initial hiccup is over and now all the traders are filing their GST returns online without any hassle. The state’s share from the GST collection has also increased,” he said.

 

Over 96,000 traders in the state had registered in the new system and except those who had opted for the composite scheme of exemption, everyone is paying GST online.

 

“As per arrangement with the Centre, Uttarakhand had received payment of Rs 223 crore in September and Rs 460 crore in November to compensate the revenue collection gap (VAT),” said a senior sales tax official. Under the GST regime, the Centre has committed to pay up the revenues to the state government to compensate the difference of VAT collections. Officials hope that the GST share of the state would increase further in the months to come since the traders are now comfortable with the filing system.

 

Source : The Times Of India

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