STATE GOVERNMENT COLLECTED RS 32,076 CRORE IN TAXES DURING THE INITIAL 6 MONTHS OF THE CURRENT FISCAL
Face2News/Chandigarh
Under the efficient leadership of Chief Minister, Sh Manohar Lal and the dedicated efforts of the state government, Haryana has achieved a significant milestone by entering the top 5 states in India in terms of Goods and Services Tax (GST) collection. This achievement underscores the state's steady economic growth and financial stability.
In the first six months of the current financial year (April-September 2023), Haryana's total tax collection has reached a commendable figure of Rs 32,076 crore, compared to Rs 27,155 crore during the same period in the previous year, marking an impressive increase of 18.3 percent.
During this period, VAT (Value Added Tax) collections was Rs 5,568 crore, SGST (State Goods and Services Tax) collections including IGST (Integrated Goods and Services Tax) settlements and SGST compensation reached Rs 20,670 crore, reflecting a remarkable growth rate of 27 percent. Furthermore, excise duty collection was Rs 5,757 crore, showing a growth of 16.3 per cent.
This surge in GST collections not only mirrors the state's economic advancement but also a positive sign for its overall development. It reaffirms the effectiveness of the GST system, which was implemented nationwide with the concept of “one nation, one tax.” The simplification of the GST process has not only benefited entrepreneurs but has also strengthened government revenues.
The state government is actively modernizing and strengthening the infrastructure of the Excise and Taxation Department. The adoption of digitalization in tax collection processes is a notable step forward. The department is focused on minimizing revenue leakages while maximizing collections. In addition, the department is committed to meeting its revenue collection target of Rs 57,931 crore, as set in the state budget.