J&K improves GST revenue collection; registers 24% growth in May

Jammu, June 2: Jammu and Kashmir, after clocking negative growth with two percent vis-a-vis GST revenue collection during April 2024, regained its upswing by registering an impressive twenty-four percent Year-on-Year (Y-o-Y) growth in May.

In May, 2023, as per the statistics released by the Union Finance ministry, J&K had registered a GST revenue collection of Rs 422 crore. However, this collection in J&K rose to Rs 525 crore in May 2024, thus registering an upswing of 24 percent.

Interestingly, this time, Ladakh Union Territory has registered a negative growth of 41 percent with GST revenue collection of Rs 15 crore in May, 2024 against Rs 26 Cr collected during the same period last year.

Among neighbouring hilly states, Himachal Pradesh and Uttarakhand registered one percent and twenty-eight percent growth respectively, in GST revenue collection in May, 2024.

Source : https://www.greaterkashmir.com/business/j-registers-24-growth-in-may/