Our Reporter
Dimapur, June 2 (EMN): Nagaland generated INR 49 crore in Goods and Services Tax (GST) revenue with a growth of 67% in May, according to the Ministry of Finance.
The state had recorded 32% GST revenue growth in April.
The Ministry of Finance stated that the gross GST revenue collection for May, 2022 was INR 1, 40,885 crore with an increase of 44% year-on-year growth, and that the GST collection crossed the 1.40 lakh crore mark for the 4th time since inception of GST and 3rd month at a stretch since March 2022.
“The revenues for the month of May 2022 are 44% higher than the GST revenues in the same month last year of INR 97,821 crore. During the month, revenue from import of goods was 43% higher and the revenues from domestic transactions (including import of services) are 44% higher than the revenues from these sources during the same month last year”, the ministry claimed. However it may be noted that May 2021 was plagued with a second wave of coronavirus.
Five Northeast states had the lowest GST revenue -- Tripura’s revenue collection was INR 65 crore; Mizoram INR 25 crore; Manipur INR 47 crore; Nagaland INR 49 crore and Arunachal Pradesh INR 82 crore.
Sikkim’s revenue was INR 279 crore, Meghalaya was INR 174 crore and Assam’s revenue collection was INR 1062 crore.
In the state-wise data, Maharashtra had the highest GST revenue with INR 20,313 crore; Gujarat had INR 9321 crore and Karnataka had INR 9232 crore.
Revenue collection from the Union Territories was the highest from Delhi with INR 4,113 crore followed by Jammu and Kashmir with INR 372 crore and Dadra and Nagar Haveli with INR 300 crore. Chandigarh’s GST revenue was INR 167 crore; Puducherry INR 181 crore; Andaman and Nicobar Islands was INR 24 crore; Ladakh was INR 12 crore and Lakshadweep was INR 1 crore.
“The gross GST revenue collected in the month of May 2022 was INR 1, 40,885 crore of which Central Goods and Services Tax (CGST) was INR 25,036 crore, State Goods and Services Tax (SGST) was INR 32,001 crore, Integrated Goods and Services Tax (IGST) was INR 73,345 crore (including INR 37469 crore collected on import of goods) and cess was INR 10,502 crore (including INR 931 crore collected on import of goods)”, the Finance Ministry maintained.
It further stated that the government has settled INR 27,924 crore to CGST and INR 23,123 crore to SGST from IGST. The total revenue of Centre and the states in the month of May 2022 after regular settlement was INR 52,960 crore for CGST and INR 55,124 crore for the SGST. In addition, the Centre also released GST compensation of INR 86,912 crore to States and UTs on May 31.