JK among 10 states with highest tax shortfall under GST
Srinagar, Nov 27: Jammu and Kashmir figures among the 10 states with highest revenue shortfall under the Goods and Service Tax (GST) this fiscal.
As per the figures accessed by The Kashmir Monitor, the state witnessed a revenue shortfall of 28 per cent between April and August.
The other states on the list include Puducherry with 42 per cent shortfall, Punjab and Himachal Pradesh with 36 per cent each, Uttarakhand 35 per cent, Chhattisgarh 26 per cent, Goa 25 per cent, Odisha 24 per cent, and Karnataka and Bihar with 20 per cent each.
The figures suggest that the states’ average shortfall has, however, improved from 16 per cent in the last fiscal to 13 per cent during April-August this year.
Simultaneously, the GST compensation paid by the government of India (GoI) to these states has also declined, as per the figures.
During August-September, the GoI has paid Rs 11,900 crore to the states, compared to Rs 14,930 crore paid during June-July.
In the last fiscal, the GoI had paid Rs 1,307 crore to the states as GST compensation on one-year completion of the new tax regime.
In September, the Finance Ministry, GoI, asked the states including J&K to enhance their tax collections.
In a recent meeting held in New Delhi, the states had been asked to identify issues hindering their tax collection.