SGST collections

SGST collections

According to the J&K government, SGST collections are showing a remarkable 44.5 percent growth rate here.

The government said that Rs. 917.85 Crs collected in April 2023, marking 30.73% growth rate.

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.

In the financial year 2021-2022, the GST monthly collections were Rs. 496.95 Crores.

The SGST cash collections have 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 the 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.

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