SRINAGAR: Jammu and Kashmir’s cumulative Goods and Services Tax (GST) collection stood at approximately Rs 35,273 crore between July 2017 to November 2024, Ministry of Finance revealed in the Lok Sabha in response to questions asked by MPs, Rajesh Ranjan and Dr Amar Singh.
The GST regime was implemented in July 2017, and it has significantly altered India’s tax structure. Jammu and Kashmir (J&K), like other states, has seen a steady increase in GST collections over the years, reflecting an evolving economy and strengthened compliance.
Jammu and Kashmir’s year-on-year, the figures reveal substantial growth. In the initial period of implementation (July 2017–March 2018), the collection amounted to Rs 2,320 crore. This grew to Rs 3,792 crore in 2018–19 and Rs 4,010 crore in 2019–20. Although the pandemic caused a dip to Rs 3,648 crore in 2020–21, recovery was evident in subsequent years with Rs 4,692 crore in 2021–22, Rs 5,246 crore in 2022–23, and Rs 6,704 crore in 2023–24. As of November 2024, the state has collected Rs 4,861 crore.
The Centre’s apportionment of GST revenues, combined with compensation measures under the GST Compensation Cess, has ensured the state’s fiscal stability, addressing revenue gaps amid evolving compliance requirements.
At the national level, GST collections have shown resilience and steady growth since its inception. From Rs 7.40 lakh crore in 2017–18 to Rs 20.18 lakh crore in 2023–24, the tax has consistently outperformed expectations in several years, contributing significantly to the nation’s revenue pool. As of November 2024, the total GST collection for the ongoing fiscal year stands at Rs 14.56 lakh crore.
The government’s efforts to bolster compliance have been instrumental in this growth. Measures such as e-invoicing for businesses, e-way bills, Aadhaar authentication for registrations, and the deployment of artificial intelligence to track discrepancies have enhanced tax collection efficiency. Moreover, targeted actions against non-filers and risky taxpayers have reduced leakages.
Despite the overall positive trajectory, the government has acknowledged that GST revenue growth occasionally falls short of budgetary projections. To counteract this, the GST Council has introduced reforms to improve compliance and expand the tax base. Initiatives include mandatory invoice matching, reducing ambiguities in tax credits, and adopting technology-driven monitoring systems.
As a unified tax regime, the government said the GST has not only streamlined indirect taxes but also contributed to fiscal federalism. For Jammu and Kashmir, the regime has provided a structured approach to tax collection, ensuring stable revenue flows that can support developmental initiatives in the region. At the national level, GST remains a cornerstone of economic reform, reflecting India’s commitment to transparent and equitable tax governance.
