SRINAGAR: Jammu and Kashmir has collected Rs 3002.26 crores of tax for the five months of the current fiscal ending August 2022, official sources said., The collections show a surge of 22 per cent in comparison to the five same months in fiscal 2021-22.
“Last year, we collected Rs 2559.04 crore for the first five months of the fiscal,” one senior official told Kashmir Life. “This year, in the same period, we have improved the tally by Rs. 543.23 crores.”
Officials said the average monthly collections for the current fiscal are at Rs 600.45 crore till August as against Rs 491.80 crore for the same period in last financial year. In August 2021, the collections were at Rs 449 crore and this August, the collections were recorded at Rs 539 crore.
“State Taxes Department J&K has recently taken up several measures in order to improve GST compliance and augment the revenue realization. In order to reduce compliance costs, time bound process for cancellation of the dormant as well as non-compliant taxpayers has been initiated by the Department and this could be one of the reasons for growth,” the official said. “Besides GST return filings for the current Financial year has increased to 95 percent which also have a bearing effect on the overall growth of GST collections.”
The officer said that the enforcement activities by the enforcement wings of the State Taxes Department especially with respect to collections from registered taxpayers who have not been filing returns.