Uttar Pradesh’s GST collection sees increase of 102%

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From Rs 13,341 crore to Rs 25,916, the GST collection in Uttar Pradesh saw an increase of 102% between June 2021 and June 2022. The growth, a state government spokesperson said, “Marked an apparent effective economic policy of the state government.” The spokesperson claimed that it was for the first time that the state recorded a whopping 360% increase in collection under GST’s composite scheme and 50% under regular GST this year as compared to June last year. This is being attributed to registration of more and more small traders under GST.

The top ten sectors in GST collection where sales went up in the last one year in the state included, petroleum products (50%), automobile (43%), iron and steel (41.50%), chemicals (41.50%), FMCG (26%), electrical and electronics (25), building materials (21%), machinery and parts (16.37%), and service sector (2%). From the monetary point of view, the service sector tops the chart with 2,433 dealers registered under GST. The government had received GST of Rs 1967.28 crore in the first quarter of 2021-22 fiscal. This has increased by two per cent to Rs 2006.71 crore.

The sale of pharma products and medical equipment dropped by 6.35 percent as corona cases fell. Against last year’s Rs 334.71 crore, the government this year received Rs 313.46 crore as GST. The spokesperson said that over one lakh new businessmen got registered under GST. He said that in the recent meetings of revenue receipts, CM Yogi Adityanath had instructed the officers to raise traders’ awareness of the importance of registration under GST. Presently, the number of GST registered traders is more than 26 lakhs while the government has set the target to increase it to 30 lakhs in the next six months. As many as 1,03,052 new businessmen got registered under GST between April and July in UP this year.

Source: Times of India

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