New Delhi | The Delhi government which presented its annual budget for 2019-20 on Tuesday, announced a target of collecting Rs 29,000 crore as Goods and Services Tax (GST).
Presenting the budget in the Delhi Assembly, Deputy Chief Minister Manish Sisodia termed introduction of GST as a “significant step in the field of indirect tax reforms” through amalgamation of a large number of central and state taxes into a single tax.
“Keeping in view the growth in Delhi’s economy, the target of GST collection in the budget estimates for the year 2019-20 is Rs 29,000 crore with estimated growth of 9.44 percent over the revised estimate of Rs 26,500 crore in 2018-19,” Sisodia said.
The net GST revenue collected for the year 2018-19 (upto January 31, 2019) was Rs 20,766.77 crore and an amount of Rs 3,140 crore has been received as a GST compensation upto January, 2019, he said.
A total 1,14,282 new GST registrations were done from April 1, 2018 till December, 2018, he said adding over two lakh new registrations were recorded during 2017-18, he said.
The AAP government presented a Rs 60,000 crore budget for 2019-20 laying emphasis on the education, health and transport sectors and said it is “two times more” than the first budget presented by it in 2014-15.