Updated: April 2, 2021 8:42:40 pm
The total excise and taxation revenue collections of Himachal Pradesh have grown by three per cent in 2020-21 despite the economic disruptions caused by the Covid pandemic, Chief Minister Jai Ram Thakur Friday said.
Thakur, in a statement, said that the revenue collections in the first quarter of the financial year were down by 52 per cent due to the Covid-induced lockdown, but in the second, third and fourth quarters, they grew by four, 23 and 34 per cent, respectively. In the month of March, the total revenue earned was Rs 1,006 crore, which was 44 per cent higher as compared to the same period last financial year.
“In March, revenue receipts under value added tax (VAT) and state goods and services tax (state GST) registered a growth of 182 per cent and 31 per cent respectively. The increase in VAT collections was primarily due to the success of Legacy Cases Resolution Scheme (LCRS). Under this scheme, the excise and taxation department has disposed cases of subsumed taxes to recover a total of Rs 362 crore, including Rs 182 crore in March alone,” he said.
Thakur said that revival of economic activities, government’s unlock strategy, better compliance by taxpayers and better administration by the excise and taxation department resulted in growth of revenue receipts. “The department has further identified some major focus areas for augmenting state revenue collections, including recoveries under the LCRS, physical verifications of e-way bills, compliance of GSTR-3B return fillings, recovery of interest for late filing of returns, recovery of ineligible input tax credit (ITC), recovery of tax deficits/mismatches and identification of cases pertaining to tax evasions and erroneous refunds.
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