Our Reporter
Dimapur, May 1 (EMN): Nagaland recorded 32% growth in Goods and Services Tax (GST) revenue in April 2022, as compared to April 2021, according to the Ministry of Finance.
The highest growth rate was recorded in Arunachal Pradesh with 90% followed by Ladakh with 53%.
Data from the Ministry revealed that three Northeastern states -- Manipur, Mizoram and Tripura -- recorded a decrease in GST revenue (-33%, -19%, and -3% respectively).
Sikkim showed a marginal growth of 2%, while Assam’s growth was at 14%.
The gross GST revenue collected in April, 2022 was INR 1,67,540 crore making the collection an all-time high. The amount is INR 25,000 crore more than the next highest collection of INR 1,42,095 crore, just last month, the Ministry of Finance claimed in its report.
From the gross GST revenue, Central Goods and Services Tax (CGST) was INR 33,159 crore, State Goods and Services Tax (SGST) INR 41,793 crore, Integrated Goods and Services Tax (IGST) INR 81,939 crore (including INR 36,705 crore collected on import of goods) and cess INR 10,649 crore (including INR 857 crore collected on import of goods).
The Ministry reported that the government settled INR 33,423 crore to CGST and INR 26962 crore to SGST from IGST.
The total revenue of the Centre and states in the month of April 2022 after regular settlement was INR 66,582 crore for CGST and INR 68,755 crore for SGST.
It further maintained that the revenues for the month of April 2022 were 20% higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 30% higher and the revenues from domestic transactions (including import of services) were 17% higher than the revenues from these sources during the same month last year.
“For the first time gross GST collection has crossed INR 1.5 lakh crore mark. Total number of e-way bills generated in the month of March 2022 was 7.7 crore, which is 13% higher than 6.8 crore e-way bills generated in the month of February 2022, which reflects recovery of business activity at faster pace”, the Ministry stated.