Jammu and Kashmir Collects Record Rs 564 Cr GST In October

SRINAGAR: With business activities improved after months of Covid-19 lockdown, the GST collections in Jammu and Kashmir have improved.

Officials said that Jammu and Kashmir collected Rs 564 crores in state GST (SGST Cash plus Credit) during October. This is a net improvement over the collections in earlier months.

“With the resumption of the business activities the GST collections are showing a positive trend, the total SGST collections stood at Rs. 359.84 cr, and Rs.435.39 cr for the month of August and September respectively,” the official spokesman said. “This has been made possible by the slew of measures taken by the Government along with the economic relief package announced in the month of September 2020”.

These steps, the spokesman said, helped in boosting the business and the other ailing sectors that had suffered due to adverse impact of Covid-19 and had a positive impact on the growth of businesses in Jammu and Kashmir.

The spokesman said the continuous increase in GST collections is clearly indicating a growth in the business activities and the taxable transactions.

In October the collections from the fuel selling sector, the MST, was at Rs 140 crore. The spokesman anticipated the collections reaching Rs 150 crore in November.

“So far as total GST cash (CGST, SGST and IGST) growth percentage under GST is concerned, the Union Territory of J&K stood at 2nd, 3rd and 8th in all India Ranking for the month of August, September and October 2020,” the spokesman added.

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