Haryana records 22% rise in GST collection

Chandigarh January 2

Chief Minister Manohar Lal Khattar, who oversees the Finance Department, lauded the significant rise in goods and services tax (GST) collection by the Haryana Excise and Taxation Department.

While the country’s overall GST revenue for December 2023 hit Rs 1,64,822 crore, representing 10.3 per cent year-on-year increase, Haryana’s performance surpassed the national average. The state’s gross GST collection for December 2023 reached Rs 8,130 crore, a remarkable 22 per cent jump compared to Rs 6,678 crore in December 2022.

“This robust growth outstrips the national average significantly, highlighting the effectiveness of Haryana’s economic policies and tax administration,” said a government spokesperson.

It’s noteworthy that neighbouring states also experienced positive growth: Himachal Pradesh (5 per cent), Punjab (8 per cent), Delhi (16 per cent), and Jammu and Kashmir (20 per cent).

Khattar said the surge in GST collection not only mirrored Haryana’s economic advancement, but also signified promising prospects for its overall development. He expressed optimism for sustained growth, aiming to elevate Haryana’s economic and financial stature. Additionally, the Excise and Taxation Department has realised 80 per cent of the total budget target for the fiscal year 2023-24 within the initial three quarters, underscoring its efficiency.

With a total budget estimate of Rs 57,931 crore for the year, the department had garnered Rs 46,349 crore by December 31, 2023, across various categories.

It’s worth noting that Haryana consistently ranks among the top five states in GST collections. It exhibited the highest growth rate among major states in November 2023. — TNS

Figures for December

Rs 8,130 crore state’s gross GST collection for December 2023

Rs 6,678 crore gross GST collection in December 2022

Annual estimate, collection

Total Budget estimate (2023-24) Rs 57,931 CRORE

Total collection (as of Dec 31, 2023) Rs 46,349 CRORE (around 80% of Budget estimate)

Collection breakdown

SGST: Rs 29,235 crore (16.5% increase) | Excise: Rs 8,533 crore (15.6% increase) | VAT: Rs 8,581 crore

Effectiveness of policies

This robust growth outstrips the national average significantly, highlighting the effectiveness of Haryana’s economic policies and tax administration. Govt spokesperson

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#Goods and Services Tax GST #Manohar Lal Khattar