Jammu and Kashmir posts 2.94 pc growth in GST collections in FY21
The gross GST revenue collections, as well as settlement for the year 2020-21 in Jammu and geographic region, stood at Rs 4,890.35 crore as against Rs 4,750.60 crore within the previous year, registering a growth of 2.94 percent, officers same on Friday.
The growth within the product and Services Tax (GST) revenue collections were denote despite constraints witnessed throughout the initial months of the business thanks to the COVID-19 internment, indicating the revival of business and economic activities within the Union Territory, the officers adscititious.
Despite the pandemic, the GST revenue showed growth throughout the half of the year, the officers same.
The reasons for the buoyancy embrace many measures taken by the government beside the economic relief package proclaimed in September 2020 for enhancing the sick sectors that had suffered all credits to the pandemic, they added.
The police work and observation by J&K’s tax department in preventing evasion additionally complimented the efforts of the govt during this regard, the officers same.
Similarly, underneath the Motor Spirit and fuel Tax (MST), the collections for the year 2020-21 within the Union Territory of J&K ranked at Rs 1,459.89 crore in comparison to Rs 1,421.69 crore in 2019-20, up 2.71 percent, the officers same.