Delhi Govt GST Collection Gets 15% Growth for Q1 of FY 23-24

During the first quarter of the Financial Year 2023-24, the Goods and Services Tax (GST) collection in Delhi experienced a notable 15% growth when compared to the corresponding period in the previous fiscal year. 

The Delhi Government has provided data indicating that the GST collection in the initial quarter has risen by more than 81% since the introduction of the new tax regime on goods and services in 2018-19.

The government's Goods and Services Tax (GST) collection between April 1, 2022, and June 30, 2022, amounted to 6,985.05 crore. However, in the current financial year, the collection for the same period has increased to 8,028.91 crore. Comparatively, the GST collection in the first quarter of 2018-19 stood at Rs. 4,419.71 crore.

Arvind Kejriwal, the Chief Minister of Delhi, took to Twitter to share this GST collection data. He remarked that while some governments claim to lack funds for investing in public welfare or establishing quality educational institutions and healthcare facilities, Delhi's honest governance has led to a 15% growth in GST collection in the first quarter, which is a significant increase. 

He expressed the government's commitment to constructing more schools, and hospitals and improving infrastructure as a result. Delhi's substantial revenue is attributed to the combined collection of Goods and Services Tax (GST) and Value Added Tax (VAT). 

In the financial year 2022-23, the national capital collected Rs. 34,200 crore from GST and VAT, and it is anticipated that the collection for the current financial year will reach Rs. 37,200 crore. 

Additionally, the overall revenue collection for the Delhi Government across various categories in FY 2023-24 is projected to be around Rs. 53,565 crore.

During a press conference, Minister Atishi praised the leadership of Arvind Kejriwal, emphasizing that the government's honesty sets an example for the entire nation. She expressed confidence that with good intentions, the government will never face a shortage of funds, as evidenced by the remarkable growth in GST collection.

The minister further highlighted that Delhi's budget spending has consistently increased over the past eight years without imposing new taxes on the public. 

In 2014-15, the budget for the national capital was Rs. 30,000 crore, which doubled to Rs. 60,000 crore in five years by 2019-20, without any new tax impositions. It is expected to further rise to Rs. 78,800 crore in 2023-24.

Minister Atishi questioned the claims of a government facing financial constraints, suggesting that it indicates the diversion of public funds into someone else's pockets.

Efforts have been made to enhance GST collection, including conducting surveys and inspections to prevent tax evasion, identify fraudulent registrations, and apprehend offenders. Special teams have been deployed at state borders to intercept unauthorized vehicles and confiscate them in cases of GST violations.

Also Read: Smart Reasons to Retain Credit Card Summaries For Tax Deductions

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