Services by provinces: Jul-Mar GST collection soars 23pc to Rs353.223bn YoY

ISLAMABAD: There has been an increase of 23 percent in the collection of sales tax on services (GST) by the provinces during the first three quarters of the ongoing fiscal year.

The contribution of GST on services in the total provincial tax collection of Rs550 billion was 64 percent during July-March 2023-24. The GST on services collection was Rs353 billion in the provincial taxes Rs550 billion during the period under review. The collection of GST on services has increased to Rs353.223 billion in July-March 2023-24 of the current fiscal year from Rs287.980 billion from the same period of last fiscal year, reflecting an increase of 23 percent.

The collection of GST on services by Punjab provinces was Rs156.124 billion in the current fiscal year, higher by 13 per cent over the same period of last fiscal year and Rs155.565 billion by Sindh with an increase of 31 per cent over the same period a year before.

The GST collection on services by Khyber-Pakhtunkhwa was Rs26.726 billion during July-March 2023-24, 34.9 per cent increase over collection of GST on services during the same period of last fiscal year and Rs14.808billion by Balochistan, up by 32 per cent over the collection during the same period a year before.

The collection of GST on services by the provinces during July-March 2022-23 (first three quarter of last fiscal year) of Rs287.980 billion included Rs138.397 by Punjab province followed by sales tax on services GST collection of Rs118.599 billion by Sindh, Rs19.802 billion by Khyber-Pakhtunkhwa and Rs11.182 billion by Punjab.

Copyright Business Recorder, 2024