Bihar has joined the top league of five states of the country by registering 18% annual growth in GST collection during fiscal 2023-24, said commercial taxes department (CTD) commissioner-cum-secretary, Sanjay Kumar Singh here on Wednesday.
“Against 13% national average growth rate of GST collection, Bihar registered 18% grown rate during fiscal 2023-24, thereby catapulting to the slot of top five states,” Singh told media persons here, adding the state has been registering 18% annual growth rate since 2021-11.
Singh also said the state’s GST collection, in the last six fiscal since the new tax regime came into force on 01.07.2017, increased by 122% overall. While the tax collection was Rs. 17,236 crore in 2017-18, it has increased to Rs. 38,198 crore in 2023-24, he added.
The department has set the target of Rs. 42,500 crore GST collection for the current financial year, and the collection till August this year has been Rs. 15,465 crore, which is 8.4% more than the tax collection that was recorded in the same month during 2023-24.
He said the taxpayer’s base, paying the GST to the state coffers stood at 6.54 lakh. “The exemplary performance of the state in GST collection has been due to efficient and effective tax administration and cooperation of taxpayers, business organisations and other stakeholders. We have implemented the GST Act, 2017, very successfully,” Singh said.
He said that state CTD would soon introduce “amnesty scheme” under which if the taxpayers make the payment of the principal of the tax demands made on them pertaining to the first three years of the GST regime – 2017-18, 2018-19 and 2019-20 – in one go, then they would get exemption from the interest and penalty amount. On the other hand, the period of one time scheme pertaining to tax disputes related to the pre-GST regime has been extended by six months from September 15 to March next year.
Source: The Times of India
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