SRINAGAR: In March 2024, Jammu and Kashmir saw a remarkable 26 percent growth in GST revenues compared to the previous year, reaching Rs 601 crore, up from Rs 477 crore in March 2023.
Similarly, Ladakh witnessed an impressive 82 percent growth, with GST revenue reaching Rs 41 crore compared to Rs 23 crore in March 2023.
This upward trend underscores the Union Territory’s steady economic progress. Also, efforts such as expanding dealer registrations, enhancing enforcement measures, and improving taxation staff capacity have contributed to this success.
The Union Finance Minister highlighted various initiatives, including the e-Stamping system and the new excise policy, which have bolstered revenue growth.
Nationally, GST revenue for March 2024 reached an impressive Rs 1.78 lakh crore, marking the second-highest collection ever, driven by a notable increase in domestic transactions.
With GST revenue showing robust growth, it reflects a positive trajectory for India’s economic landscape.
