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आमदनी अठन्नी, खर्चा रूपया !

States face more expense than revenue in april month

UP Government has spent over Rs 12,000 crore in paying salaries and pension for April, when its revenues were Rs 2,284 crore. “It is shocking, but the state cannot compromise with the lives of the people,” UP finance minister Suresh Khanna told TOI, reacting to the low tax revenue. It’s a similar story in Punjab, where wage and pension bill added up to Rs 3,000 crore in April and there was an equal amount spent on debt servicing, while total earnings were Rs 200-250 crore.

“Not a single bottle of alcohol was sold and there is virtually no petrol or diesel sales. We earned around Rs 10 crore a day from stamp duty and registration, which is not there, and consumption being what it is, is leading to almost NIL GST. But there are higher spending requirements from relief & rehabilitation and medical departments,” Punjab finance minister Manpreet Badal told TOI.  The state is staring at a Rs 8,000 - 9000 crore shortfall in the first three months of 2020-21 and even if things normalise, revenues would be around Rs 20,000 crore lower than what Punjab had expected in the remaining nine months. Faced with a severe cash crunch, the state government has front-loaded its borrowing and is tapping investors to raise money now, instead August or September.

The story is similar across states. By all accounts, GST collections for March sales, which are due to be paid by Tuesday, may be just around 30% of the year-ago period when they were estimated at around Rs 1.14 lakh crore. Apart from GST and a share of the Centre’s tax kitty, the main contributors to the state’s revenue include value-added tax (VAT) on fuel, state excise on liquor, property tax, and tax on vehicles. On all fronts, tax revenues have virtually come to a halt, prompting several states to open liquor vends in the hope of raising some excise to keep the administration running.

Source: TOI


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May 4, 2020


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GST News (Updates)


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18
Apr
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10 Apr

☑ Monthly | GSTR-7

GSTR-7 for the m/o Mar 2024 (For TDS Deductors u/s 51 - Section 39(3)).

☑ Monthly | GSTR-8

GSTR-8 for the m/o Mar 2024 [For TCS collection by E-Commerce Operators - Section 52(4)].

12 Apr

☑ Monthly | GSTR-1

GSTR-1 for the m/o Mar 2024 (Monthly Taxpayers) - N.No. 83/2020.

[Due date extended vide N.No.09/2024 from 11th April to 12th April]

13 Apr

☑ Quarterly | GSTR-1

GSTR-1 for the Quarter Jan - Mar 2024 (For QRMP Taxpayers) - Notification No. 83/2020 - CT

☑ Monthly | GSTR-5

GSTR-5 for the m/o Mar 2024 [Return by Non Resident Taxpayers - Rule 63 - Section 39(5)]

☑ Monthly | GSTR-6

GSTR-6 for the m/o Mar 2024 [For Input Service Distributors - Rule 65 & Section 39(4)].

18 Apr

☑ Quarterly | CMP-08

CMP-08 for Quarter Jan - Mar 2024 (For Composite Taxpayers - Rule 62).

20 Apr

☑ Monthly | GSTR-3B

GSTR-3B for the m/o Mar 2024 (Monthly Taxpayer - Rule 61) - Either Compulsory taxpayer > 5 cr. or Voluntary taxpayer < 5 cr.

☑ Monthly | GSTR-5A

GSTR-5A for the m/o Mar 2024 [Return by OIDAR Service Providers - Rule 64.]

22 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayer < 5 Cr - Rule 61) - Category I States.

* State Category I - Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep.

24 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayers < 5 Cr - Rule 61) - Category II States.

* State Category II - Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi.

25 Apr

☑ Half-Yearly | ITC-04

ITC-04 for the half year (Oct - Mar 2024) (For taxpayers > 5 Cr. Turnover) - Rule 45.

☑ Annual | ITC-04

ITC-04 for the FY 2023-24 (For taxpayers upto 5 Cr. Turnover) - Rule 45.

28 Apr

☑ Monthly | GSTR-11

GSTR-11 for the m/o Mar 2024 (Statement of inward supplies by persons having Unique Identification Number (UIN)).

30 Apr

☑ Annual | GSTR-4

GSTR-4 (Annual Return) for FY 2023-24 by Composite Taxpayer (Rule 62).

☑ Quarterly | QRMP

Last date for opt-in / opt-out QRMP Scheme for quarter Apr - June 2024 (Rule 61A)