J&K ranks 2nd in GST collections for September

J&K ranks 2nd in GST collections for September

Srinagar: Post lockdown, the Jammu and Kashmir has collected the second-highest Goods and Services Tax (GST) in the country last month.
In September, the government witnessed an increase of 30 percent in the GST revenue collections in Jammu and Kashmir.
As per the figures, the Centre collected Rs 650 crores GST returns from Jammu and Kashmir. From March to August, the union territory witnessed a dip of more than 25 percent in GST collections.
Against nearly Rs 1,700 crore last year in the first quarter, Jammu and Kashmir has realized Rs 1,169 crore GST from April to August.
Nagaland has filed the highest GST returns in August with tax collection surging by 43 percent.
Figures reveal that gross GST revenue collected in September 2020 in India stood at Rs 95,480 crore. This included Rs 17,741 crore central GST, Rs 23,131 crore State GST, and Rs 47,484 crore Integrated GST.
The September tally also included the collection of Rs 22,442 crore tax on imports of goods and cess of Rs 7,124 crore including Rs 788 crore collected on import of goods.
The lowest GST collection, as per the figures, has been reported from Daman and Diu. It has reported minus 83 percent collection.
Maharashtra, which is the most affected state due to the pandemic has shown zero percent GST collection. Himachal stood at seven percent, while GST collection from Karnataka, West Bengal, Tamil Nadu, and Andhra Pradesh have been reported minus 5, 4, 15, and 8 percent, respectively.
The Centre earlier paid over Rs 2000 crore to Jammu and Kashmir as Goods and Service Tax (GST) compensation after a shortfall in the collection of the revenue due to the Covid-19 pandemic.
The union government pegged the GST compensation at Rs 1.51 lakh crore. (Kashmir Monitor)

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