SGST collections showing remarkable 44.5 percent growth rate in J&K, One of the highest in the country
Rs. 917.85 Crs collected in April 2023, marking 30.73% growth rate
JAMMU, MAY 01: The GST Collections in the Union Territory of Jammu and Kashmir have shown unprecedented growth during the month of April 2023 with total collections for the month touching Rs. 917.85 crores showing an increase of Rs 215.77 crores over last year April collections marking growth rate of 30.73 %.
Growth in SGST has been one of the highest in the country which with growth at 44.51 percent over the same period last year as released by Ministry of Finance data today
Similarly, IGST settlement shows growth of 22 percent in comparison to last financial year.
It is notable that GST collections for the month of April 2023 are highest ever recorded by the State Taxes Department since GST implementation. Previously the best ever collections in a month 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 collections were Rs. 496.95 Crores.
The SGST cash collections has been rising in recent months significantly with April this year making to national headlines with the record growth in J and K since inception of GST as the figures speak more than volumes.
The department has also increased the tax base from 1.17 Lakhs in the year 2021-22 to 1.34 Lakhs in the financial year 2022-23.
Around 25982 new registrations were granted in the year 2022-23. The trend in increased revenue collections from the past one year by State Taxes Department is due to the myriad of 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 the department has been vigilant on taking actions 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 also 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 UT of J&K.