Delhi’s GST collection dips by over 6% in the 2nd quarter of FY 2022-23

Oct 4, 2022 | Blog, GST FAQ, News | 0 comments

Delhi’s Goods and Services Tax (GST) collection in the second quarter of 2022-23 dipped by more than 6 percent as compared to the first quarter of the fiscal, according to official figures.

However, the combined GST collection of the first two quarters of 2022-23 was 28 percent higher than the corresponding period of the financial year 2021-22, showing that the economic situation is recovering from the effects of the COVID-19 pandemic, officials said.

The GST collection in the third quarter (October-December) is expected to be higher with a spur in trade and business during the festive season, they added.

The GST collection of RS 14,297 crore in the first quarter (April-June) was RS 880 crore more than the RS 13,417 crore collected in July-September.

According to the officials, the Delhi government collected RS 5,871 crore from GST in April, RS 4,113 crore in May, RS 4,313 in June, RS 4,327 crore in July, RS 4,349 crore in August, and RS 4,741 crore in September.

The GST collection of Delhi in the first two quarters of 2022-23 was RS 27,214 crore as compared to RS 21,505 crore in 2021-22. The Delhi government had estimated total revenue receipts of RS 75,800 crore in the budget for 2022-23, including tax collection of RS 47,700 crore.

The GST, which is the biggest component of Delhi’s tax revenue, combined with the Value-Added Tax (VAT), is estimated to earn RS 31,200 crore for the government. Other taxes include excise duty, stamp and registration fee on the sale of properties, and road tax on motor vehicles.

Source from: https://www.moneycontrol.com/news/economy-2/delhis-gst-collection-in-2nd-quarter-of-fy-2022-23-dips-by-over-6-9274231.html

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