Jammu and Kashmir has collected of Rs 10,139.86 crores on the account of Goods and Services Tax (GST) in the past two financial years. According to official figures, State government realized Rs 3539.22 crores revenue of which Rs 1000.71 crores were collected under Goods and Services Tax (GST) in the financial year 2017-18, Rs 1401.51 crores have been collected in the same financial year through Integrated Goods and Services Tax (IGST) transfer a tax levied on all Inter-State supplies of goods and/or services. In this financial year an amount of Rs 1137 crores were also released by the Centre as GST compensation to certify that the income of the states is sheltered.
This information was revealed by the Public Information Officer (PIO) of the Jammu and Kashmir State Taxes Department (JKSTD) in a reply to Right to Information (RTI) application. In the financial year 2018-19, a revenue amount of Rs 6600.64 crores were generated by the JKSTD from SGST, IGST Transfer and compensation. According to the documents, the JKSTD has collected a revenue of Rs 1686.23 crores on the account of SGST, Rs 3452.41 crores from IGST Transfer and Rs 1462 crores from the Centre as GST compensation. In the financial year, 2017-18 (Upto June-2017), an amount of Rs 782.09 crores was generated by the JKSTD under VAT.