The state has received Rs 280.7 crore in State GST (SGST) in the first return of the file filed by GST (Goods & Service Tax). While the Central GST (CGST) has received revenue of Rs 147.61 crore from the state. Although, SGST and CGST share equal stake, but the CGST’s share seems to be lower due to the profit of the business tax credit (tax refund). The last date for filing returns of businessmen was 28 August and this figure is on August 29.
Compared to the revenue of the business in July, if the revenues received are compared with VAT (excluding petrol) were received last year, then the revenue earned from GST is Rs. 136.06 crores. The amount was 416.76 crores. Although this reduction can not be considered final, because the revenue received in IGST (Integrated GST) is yet to be released from GST Network (GSTN).
The revenue of IGST is given to the state where goods are consumed and in view of this, the revenue graph of Uttarakhand can climb up sharply. According to Additional Secretary Finance Bibi Mathal, after getting the figure of IGST this time, the figure of last year’s revenue receipt can easily be broken.
1108 crore rupees went out from the state
According to Preity Manral, Deputy Commissioner of State Goods and Services Tax, IGST is applicable on supply of goods outside the state and in the first return of GST, revenue of Rs.1108.45 crore has been received in the supply of goods made out of the state. This revenue will be divided into those states, where the goods were consumed.
Total Revenues 1682 Crores
According to Amit Gupta, Joint Commissioner of GST, according to the file filed till August 28, the total turnover from the state has been Rs 1682.79 crore. However, till September 1, this figure had risen to 1694.93 crores. It has also received an amount of 15.25 crores in the form of cess.
Uttarakhand GST Revenue greater than over 17 states
Uttarakhand receipts in SGST are more than 17 states of the country. In the case of revenue, Uttarakhand is ahead of Himachal Pradesh, and other Himalayan states with its geographical conditions.