JK’s Seven-Month Payment Totals Rs 4,811.09 Crore

JK's Seven-Month Payment Totals Rs 4,811.09 Crore

Asif Iqbal | November 1, 2023 | 12:31 PM IST | Jammu Kashmir | Follow on Google News

JK’s Seven-Month Payment Totals Rs 4,811.09 Crore.image/Respersentional

JK’s Seven-Month Payment Totals Rs 4,811.09 Crore

Srinagar, Jammu and Kashmir, is demonstrating impressive growth in GST revenue when compared to the rest of India, according to government officials.

Dr. Rashmi Singh, Commissioner of State Taxes for Jammu and Kashmir, reported, “GST revenue collections from J&K (SGST) have witnessed a remarkable 33.20% increase, surpassing the national average of 15% for the current fiscal year.” She added, “By the end of October 2023, we’ve achieved a total GST revenue (comprising SGST and IGST) of 4811.09 crore, indicating an overall growth rate of 20.31%.

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“Over the years, the taxpayer base in Jammu and Kashmir has expanded significantly. In the 2017-18 fiscal year, the number of commercial tax payers under GST was 72,000, and this figure has now more than doubled to over 1.42 lakhs. The commercial tax department, which used to collect Rs 300 crore monthly, now averages around Rs 683 crore. Furthermore, the rate of return filing has surged to an impressive 97%.

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Asif Iqbal

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