The Delhi Government, while announcing the annual budget, the Deputy Chief Minister Manish Sisodia said that the Government is targeting to achieve revenue of Rs 29,000 crore from the Goods and Services Tax ( GST ).
Presenting the budget in the Delhi Assembly, the Deputy Chief Minister said that the introduction of GST as a “significant step in the field of indirect tax reforms” through the 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 (up to January 31, 2019) was Rs 20,766.77 crore and a number of Rs 3,140 crore has been received as a GST compensation up to 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 registration was recorded during 2017-18, he said.
The Delhi budget presented a Rs 60,000 crore budget for 2019-20 giving more priorities to education, health, and transport sectors.
