Section Table-2 of Punjab Goods and Services Tax Act — Projections for Financial Year 2017-18 if GST is implement from 1-7-2017

Sr. No. | Tax | Collection (Rs. In crores) | Remarks 1. | Excise (1-4-17 to 31-3-18) | 5422 | Excise Policy, 2017-18 2. | VAT upto 30-06-2017 (including VAT on Petroleum products, liquor, lotteries and purchase tax) | 5036 | Projected figure = VAT collected upto 30-06-2016 + 10% growth. 3. | VAT on petroleum products w.e.f. 01-07-2017 to 31-03-2018 | 4241 | Projected figure = VAT collection from petroleum products w.e.f. 1-7-2016 to 31-3-17 + 10% growth. 4 | VAT on liquor w.e.f. 01-07-2017 to 31-03-2018 | 196 | Projected figure = VAT collection from liquor w.e.f. 1-7-2016 to 31-3-17 + 10% growth. 5. | Entertainment Tax upto 30-06-2017 | 14.85 | Projected figures = Total collection from entertainment tax and luxury tax upto 30-06-2016 + 10% growth. 6. | Luxury Tax upto 30-06-2017 | 12.72 | - 7. | GST w.e.f. 01-07-2017 to 31-03-2018 | 14704 | Projected figure = Revenue which will be subsumed (base of 2015-16) x 3/4 + 14% cumulative growth. Total | | 29626.57 | Note:- In addition to the above estimated figure, revenue on account of tax in lieu of Octroi on liquor to the tune of Rs. 163 crores will come to the State at the projected growth rate of 10%. Further, ID cess on Stamp Duty and Electricity will continue to come.