The taxation picture of Jammu and Kashmir is improving vastly. Gone are those ugly days when the trade and business people in Jammu and Kashmir skipped giving taxes and this is a very good news for one and all. This augurs well for our financial condition as Jammu and Kashmir people. This would also ensure good governance in Jammu and Kashmir in long run.
We need to bear in mind that Taxes are used by the government for carrying out various welfare schemes including employment programmes. There are Lakhs of employees in various departments and the administrative cost has to be borne by the Government.
The statistics and facts related to it are encouraging. As a matter of fact, the Jammu and Kashmir has registered a substantial growth in collection of Goods and Services Tax (GST) in the month of December, 2022.
As per the State/UT wise data being reflected in a statement issued by the Finance Ministry, J&K has registered an increase of 28 per cent in its GST collection for the month of December, 2022 which is 13 per cent more than the national average.
Additional Commissioner, State Taxes Kashmir, Shakeel Maqbool, while speaking in this backdrop, said that this spurt in GST collection has been recorded due to better tax compliance and reporting coupled with economic recovery. He added that this increase is one of the highest ever monthly growth rates in J&K since the inception of GST.
The pulse from the Government and experts is that
reasons for the buoyancy in the GST collection are the several measures taken up by the government, the e- infrastructure in place and usage of the data analytics besides the compliance by the taxpayers.
Some months back we came to know that in record breaking development, the Jammu and Kashmir has collected a record tax of Rs 15179.42 crore in fiscal 2021-22, which concluded today. The collections are 25.38 per cent more than Rs 12105.95 crore collected in the last financial year, fiscal 2020-21, an official spokesman said in Jammu.
It is worth pointing out here that Excise Duty collections have reached Rs 1,760.74 crore by March 2022, against Rs 1,353.81 crore collected during the financial year 2020-21 thereby recording a substantial growth of 30 per cent.
The impressive tax revenue generated during 2021-22 indicates revival and recovery of business and trade activities in the Union Territory.
