Karnataka’s GST collection jumps 16.5% this festive season from last year
The data showed that the collection has increased by nearly 16.5 per cent as compared to the same period last year, indicating a return to shopping spree post-Covid.
With a collection of Rs 6,786.43 crore in the same period, the collection of Integrated Goods and Services Tax (IGST) has also gone up by 29.15 per cent, indicating an increase in interstate transactions and movement of goods between states.
According to sources, home appliances, electronic goods, gold, and apparel were the most sought-after items during the festive season.
The Commercial Taxes Department has a revenue collection target of Rs 1.01 lakh crore for 2023-24 and so far, the department has collected close to Rs 62,400 crore. Apart from the hike in shopping during the festive season, the department has also improved revenue collection through the enforcement drives, the officials said.
“The GST collections have been encouraging. While the shopping during the festive season has increased the revenue, enforcement drives have also helped us improve the revenue,” said Shikha C, Commissioner, Commercial Taxes.
