It seems that the GST revenue collections are growing at a fast pace with all the sectors of the economy witnessing a strong growth in demand. This is being reflected in the GST revenue collections of this financial year.
According to data, the Goods and Services Tax (GST) revenue collection stood at Rs 9,642.93 crore from April to October of FY 2022-23. The total revenue realised from April to October 2022 was at Rs 9,642 crore, as compared to Rs 7,738.52 crore in the same period of the previous year, a rise of Rs 1,904.41 crore resulting in growth of 24.61 per cent. This was disclosed by senior officials of Nagpur Zone GST.
The Nagpur Zone review meeting was conducted recently inwhich R C Shankhla, Chief Commissioner GST, Nagpur Zone, the divisional Commissioners, Joint Commissioners and Additional Commissioners were present. After the indepth analysis and brainstorming session, the Chief Commissioner was confident that Nagpur Zone target for FY 2022-23 at Rs 18,101 crore could be achieved and surpassed by the end of the financial year.
As per the past figures, the GST revenue collection stood at staggering Rs 14,485.59 crore in FY 2021-2022. The GST collection was significantly higher by Rs 3,029.87 crore in FY 2021-22 as compared to Rs 11,455.72 core recorded in FY 2020-21. The GST collection for the fiscal had augmented by a remarkable 26.45 per cent.
Similarly, the GST collection in Nagpur Zone in the fiscal 2019-20 was posted at Rs 12,649.15 crore and in 2018-2019 stood at Rs 11,857 crore, the data mentioned.
Nagpur Zone GST Department consists of total 24 districts in Maharashtra including 11 districts of Nagpur Division, 8 districts of Aurangabad Division and 5 districts of Nashik Division.