Last Updated on November 2, 2021 at 5:35 pm
Jammu and Kashmir recorded highest collection of Goods and Services Tax (GST) in October which is a growth of 74 percent in GST collection in October 2021 as compared to corresponding month last year 2020.
As per official figures, Rs 648 crore has been collected in the month of October 2021. It is 45 percent more than September. In September, the GST collection in Jammu and Kashmir was Rs 377 crore. As per the official hand out, The gross GST revenue collected in the month of October 2021 is Rs 1,30,127 crore of which CGST is Rs 23,861 crore, SGST is Rs 30,421 crore, IGST is Rs 67,361 crore (including Rs 32,998 crore collected on import of goods) and Cess is Rs 8,484 crore (including Rs 699 crore collected on import of goods).
During August this year, Rs 392 crore was collected from Jammu and Kashmir against Rs 432 crore in July.
As per the officials, the main reason for rise in GST collection is the strong recovery in economic activities in the Union Territory.
Officials said that economic activities in J&K are rising particularly after decline in Covid-19 number in July this year. They further added that last month, economic activities saw upward trends particularly in horticulture, agriculture, and business, which eventually increased the tax collection. Officials believe that the GST collection will rise in the coming months.
The revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20. The GST revenues for October have been the second highest ever since introduction of GST, second only to that in April 2021, which related to year-end revenues.
