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Jammu KashmirJ&K’s December GST collection reaches Rs 492 Cr

J&K’s December GST collection reaches Rs 492 Cr

Date:

Srinagar, Jan 4: and has registered a growth of 20 percent in the collection of Goods and Services Tax (GST) in the month of December last year compared to the same month in the year 2022.

Against Rs 410 crore in December 2022, a total of Rs 492 crore has been collected in Jammu and Kashmir as GST for the month of December.

With this Jammu and Kashmir has at six positions for a high percentage of GST collection.

Pertinently, in November, Jammu and Kashmir had recorded an impressive 9 percent increase in GST revenue collection compared to the same period in 2022.

In November, J&K's GST collection for November 2023 stood at Rs 469 crore, a substantial rise from the Rs 430 crore recorded during the corresponding period in 2022.

At level, the gross GST revenue collected in the month of December, 2023 stood at ₹1,64,882 crore.

During the April-December 2023 period, gross GST collection witnessed a robust 12% y-o-y growth, reaching ₹14.97 lakh crore, as against Rs13.40 lakh crore collected in the same period of the previous year (April-December 2022).

The average monthly gross GST collection of Rs1.66 lakh crore in the first 9-month period this year represents a 12% increase compared to the Rs 1.49 lakh crore average recorded in the corresponding period of FY23.

Last week, the Jammu and Kashmir government approved a proposal of the Finance Department for granting amnesty for settlement of Tax arrears pertaining to pre GST regime.

An official said there has been a substantial growth in the number of taxpayers in Jammu and Kashmir, which subsequently increased the collection of GST.

“We currently have more than 1.45 lakh taxpayers. There has been an addition in the number of taxpayers in Jammu and Kashmir following which the GST collection keeps on increasing in the union territory,” he said

The Jammu and Kashmir government also said that the union territory has witnessed a positive growth in GST collection last year.

The Additional Commissioner Namrita Dogra during a review meeting informed that more than 30% growth has been seen over the comparative period last year and the overall growth in the SGST cash component has shown a healthy upward swing of around.

 

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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