J&K Gets High GST Collection of INR 564 CR in October 2020

Due to covid-19 disease after numerous losses in the businesses in Jammu and Kashmir now have started improving from last month said on Wednesday. This is improved due to various methods implemented by the government as they provide a relief package to the people which was declared in September month 2020.

Following these steps helps in enhancing the performance of the businesses and the other assistance fills the bridge affected by covid-19 which in turn had an increase in the growth of the business in the union territory. In September and October month the revenue has grown as it was from before as judged. The GST collection INR 1 trillion GST has been collected for the very first time in the eight months in October post unlocking from September. Any month GST collection resembles the business received in the previous month and motor spirit and diesel oil tax (MST) hikes in the similar month.

Rs 564 cr is collected by the state taxes department in state GST (SGST cash and credit) in the current month. Resuming business activities a positivity in revenue seems as far the rise in GST collections and besides that, the total SGST collection stood at Rs 359.84 cr and Rs 435.39 cr in August and September month.

Read Also: J&K Makes Record of Highest GST Revenue Collection in Sep 2020 The business has started after the lockdown phase due to covid-19 and also after the closing on 5 August. It is concluded that the centre has collected 2nd highest GST from Jammu and Kashmir

The growth in the business activities and the taxes resemble the increase in the GST collections. The MST revenue lies at Rs 141 cr in the October month while it is urged to rise at Rs 150 cr for the November month.

Seeking the total GST cash (CGST SGST AND IGST) Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings and adjustments of input tax credit under GST in India) rise in percentage beneath GST, the UT of Jammu and Kashmir stated at 2nd, 3rd, and 8th in all India rank in the August, September and October month 2020.