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Since inception of new tax regime, Bengal collects highest ever SGST, IGST in December

Since inception of new tax regime, Bengal collects highest ever SGST, IGST in December

Kolkata: Despite having faced the double whammy of Amphan and Covid pandemic, Bengal has recorded the highest-ever State Goods and Services Tax (SGST) and Integrated Goods and Services Tax (IGST) collection in December 2020 since the introduction of new Goods and Services Tax (GST) regime in July 2017. In a first, the state has witnessed a collection of whopping Rs 2,600 crore SGST and IGST in a month.

According to the experts, it is a major achievement for the state which has suffered damages worth Rs 1 lakh crore due to super cyclone Amphan amid the economic downturn during the ongoing pandemic.

The economy is improving after the massive sloth due to the nationwide lockdown. But, the increase in SGST and IGST collection in the state is an outcome of a comprehensive economic policy taken up by the state government since the beginning of the pandemic, said a senior official of the state Finance department.

According to sources in Nabanna, the second-highest collection worth Rs 2500 crore was witnessed in November 2020. "Now, when we got the figure of December 2020 in January, a growth of another Rs 100 crore was noticed compared to that of its previous month," the official said.

In September last year — after six months since the Covid situation prevailed — state witnessed a collection more than the sum collected in the corresponding month in 2019. The collection was Rs 2,100 crore in September 2020, ensuring a 6 per cent growth compared to the same period last year.

The collection in December, 2019 was Rs 2,400 crore, Rs 200 crore less than December 2020. "Chief Minister Mamata Banerjee's call to implement lockdown with a humane approach and continuous investment in infrastructure development could be the factors behind the highest ever SGST and IGST collection in the state," said an official.

But, the state is still bearing Rs 10,000 crore deficit in devolution funds till December 2020 with the Centre yet to clear the same.

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