Arunachal records 90% jump in revenue growth in April 2022
- May 03, 2022,
- Updated May 03, 2022, 2:58 AM IST
Arunachal recorded 90% growth in Goods and Services Tax (GST) revenue in April 2022, as compared to April 2021, according to the Ministry of Finance.
Arunachal Pradesh recorded the highest growth rate with 90% followed by Ladakh with 53% and nagaland recorded with 32% revenue growth.
The news was shared by the Chief Minister of Arunachal pradesh, Pema Khandu through his social media platforms facebook and twitter. He wrote, “A great news from Arunachal Pradesh!
Arunachal records highest growth of GST revenue during April 2022 vis a vis April 2021. A record 90% jump in GST collection.”
According to data from the Ministry, three Northeastern states, Manipur, Mizoram, and Tripura saw a drop in GST revenue (-33 percent , -19 percent , and -3 percent respectively). Sikkim's growth rate was only 2%, while Assam's was 14 percent.
The gross GST revenue collected in April 2022 was INR 1,67,540 crore, which was a record high. According to the Ministry of Finance's report, the amount is INR 25,000 crore higher than the second biggest collection of INR 1,42,095 crore, which occurred just last month.
The Central Goods and Services Tax (CGST) was INR 33,159 crore, the State Goods and Services Tax (SGST) was INR 41,793 crore, the Integrated Goods and Services Tax (IGST) was INR 81,939 crore (including INR 36,705 crore collected on goods imported), and the Integrated Goods and Services Tax (IGST) was INR 81,939 crore.
According to the Ministry, the government paid INR 33,423 crore to the CGST and INR 26962 crore to the SGST from the IGST.
After regular settlement, the total revenue of the Centre and states in April 2022 was INR 66,582 crore for CGST and INR 68,755 crore for SGST.
It went on to say that the April 2022 revenues were 20% greater than the same month the previous year. Revenues from imports of products were 30 percent higher during the month, while revenues from domestic transactions (including imports of services) were 17 percent higher than in the same month the previous year.