2.94% increase over 2019-20 despite COVID

Jammu Tawi, May 19: Jammu and Kashmir collected Rs 4890.35 crore as GST in fiscal 2020-21. This makes a 2.94 per cent increase over the collections in fiscal 2019-20, when Rs 4750.60 crore was collected.

“The Goods and Service Tax (GST) revenue collections in the Financial Year 2020-21 has shown positive growth despite constraints witnessed during the initial months of the fiscal year due to Covid-led restrictions,” the government said. “GST collections in the Union Territory had plummeted by more than 70 per cent Year-on-Year (YoY) during the lockdown months of April, May, and June last year.”

This information is part of the Annual Report- Promoting Good Governance that Lt Governor Manoj Sinha released in Jammu. Compiled by the Finance Department, this document showcases major initiatives undertaken by the Department during 2020-21 to bring transparency and accountability in the execution of the public works.

The document suggests that despite Covid related periods of restrictions, the Excise Revenue collection in 2020-21 grew at 5.36%. “Total excise revenue generated during 2020-21 stood at Rs 1353.43 crore,” the document reveals.

The report in the form of an e-Book provides insight into reforms, steps implemented by the Finance Department to institutionalize prudence in financial management in J&K which has truly transformed the Union Territory, an official spokesman said.