Jammu and Kashmir records 22% growth in GST collection this financial year

There has been a 22.09 per cent increase in Goods and Service Tax (GST) collection in Jammu and Kashmir in the first five months of 2022-2023 financial year (FY) compared to the same period last year.

According to officials, from April 1 this year till August 31, Rs 3002.26 crore Goods and Service Tax (GST) revenue collections have been made in Jammu and Kashmir which is 22.09 per cent higher compared to the same period in 2021.

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“There is an increase of Rs 543.23 crore in revenue collections till August in comparison to the last financial year for the same period. Average monthly collections for the current financial year are at Rs 600.45 crore till August as against Rs 491.80 crore for the same period in the last financial year,” they said.

The enforcement activities by the enforcement wings of the State Taxes Department, especially with respect to collections from registered taxpayers who have not been filing returns is one of the reasons for higher GST collection this year, officials added.

The GST in Jammu and Kashmir was rolled out on July 7, 2017, when the region was a state and had a special status under Article 370. The GST was rolled out after a week-long delay with then state legislature passing the bill amid boycott from the opposition parties.