J&K’s tax collection up by 17 pc post GST implementation
AVINAV VERMA. Updated: 8/24/2019 11:11:23 AM
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JAMMU: With the Goods and Services Tax (GST) revenue of Rs 5139 crore during last fiscal, Jammu and Kashmir has witnessed 17 per cent rise in tax collections in the new one nation-- one tax regime.
During the financial year 2018-2019, the state government has collected GST and Integrated GST (IGST) of Rs 5139 crore, which is 17 per cent higher than on an average tax collected during Value-Added Tax (VAT) regime of the state.
The data available with The News Now reveals that the GST collection graph started moving upwards since June 2018. In the same month GST collection was Rs 635 crores which was highest during last fiscal year followed by Rs 569 in the month of March 2019.
The GST was implemented in J&K on July 8th 2017, despite facing stiff opposition from business community and general public in Kashmir. The Jammu and Kashmir Goods and Services Tax Bill 2017 was adopted by a voice vote in the absence of opposition parties which accused the PDP-BJP government of undermining the special status of the state.
Under the old indirect tax regime, the government had collected taxes of Rs 3744.93 in fiscal year 2014-15, Rs 4396.82 core in fiscal year 2015-16 while Rs 4990.5 was collected in the fiscal year 2016-17.
Moreover, in the fiscal year 2017-18, the state government had collected VAT for four months as the GST was put into action in the state after July 2018. Before July 2018, the VAT collection for four month from April to July was Rs 2252.27 core while for the rest of eight months Rs 2611 crore collected by state government under one tax regime.
In the first year of one tax regime in the state, the highest tax Rs 514 crore was collected in the month of February 2018 followed by Rs 369 core in the month of January 2018.