J&K GST collection grows 30.73 percent in April

Jammu,  The GST collection in the Union Territory of Jammu and Kashmir touched Rs. 917.85 crores in April, showing an increase of Rs 215.77 crores over a year ago period.

It marked a growth rate of 30.73 percent.

Growth in SGST has been one of the highest in the country at 44.51 percent over the same period last year, Ministry of Finance data released on Monday showed, said an official.

Similarly, IGST settlement showed growth of 22 percent in comparison to last financial year.

Notably, GST collection for April is the highest ever recorded by the state Taxes Department since GST implementation. Previously, the highest monthly collection in terms of SGST cash and IGST

monthly average in the last financial year was more than Rs 600 crores

In the financial year 2021-2022, the GST monthly collection was Rs. 496.95 crores.

The SGST cash collection has been rising in recent months significantly with April this year making the national headlines with the record growth in J&K since the inception of GST.

The department has also increased the tax base from 1.17 Lakhs in 2021-22 to 1.34 Lakhs in the financial year 2022-23, said an official.

He said around 25982 new registrations were granted in the year 2022-23, adding, “the trend in increased revenue collections from the past one year by State Taxes Department is due to the myriad steps taken by the department, which resulted in improvement in the compliance behaviour by the taxpayers and proactive support provided to taxpayers by the department for making the compliances under Goods and Services Tax easier and smoother.”

At the same time, the department has been vigilant on taking action against defaulters identified through various IT tools like BIFA, GST Prime, GST BO portal and as well as through human intelligence. 8800 cancellations have also been done in the financial year 2022-23. Honest taxpayers have been facilitated and rewarded under the initiative taken by the department in tax awareness programme “KAR-TAVYA” which was launched recently by Lieutenant Governor of J&K, said the official.