{"id":5732,"date":"2024-06-14T02:12:15","date_gmt":"2024-06-14T02:12:15","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=5732"},"modified":"2024-06-14T02:12:15","modified_gmt":"2024-06-14T02:12:15","slug":"gujarats-gst-collection-increases-by-17-5-in-fy-2023","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/gujarats-gst-collection-increases-by-17-5-in-fy-2023\/","title":{"rendered":"Gujarat’s GST collection increases by 17.5% in FY 2023"},"content":{"rendered":"

GSTcollection inGujaratsurpassed the Rs 1 lakh crore mark in fiscal 2022-23 to touch Rs 1.14 lakh crore. With this, the total tax mop-up in the state grew 17.5% during the fiscal. The rise in commercial activity after the lifting of Covid-related restrictions during the year coupled with are among the key reasons for Growth<\/a> in the tax collection in Gujarat.<\/p>\n

At the time of the GST roll-out, the Centre used to compensate states to ensure a protected revenue growth at 14% per annum for five years. Fiscal 2022-23 was the first year since the Centre stopped compensation to states. Yet, GST collection in Gujarat grew 17.5%, indicating the state is well-positioned to maintain its revenue inflows. This, in fact, is the highest growth rate since the new tax regime was rolled out except for the 30% growth during FY22, albeit on a lower base of tax collection during the pandemic year FY21.<\/p>\n

During the year, Gujarat’s income through SGST (Rs 65,746 crore) and value-added tax (VAT) on non-subsumed items (Rs 38,037 crore) stood at Rs 1.03 lakh crore in FY2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

GSTcollection inGujaratsurpassed the Rs 1 lakh crore mark in fiscal 2022-23 to touch Rs 1.14 lakh crore. With this, the total tax mop-up in the state grew 17.5% during the fiscal. The rise in commercial activity after the lifting of Covid-related restrictions during the year coupled with are among the key reasons for Growth in … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1084],"tags":[1110],"class_list":["post-5732","post","type-post","status-publish","format-standard","hentry","category-gujarat","tag-04-04-23"],"yoast_head":"\nGujarat's GST collection increases by 17.5% in FY 2023 - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/gujarats-gst-collection-increases-by-17-5-in-fy-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gujarat's GST collection increases by 17.5% in FY 2023\" \/>\n<meta property=\"og:description\" content=\"GSTcollection inGujaratsurpassed the Rs 1 lakh crore mark in fiscal 2022-23 to touch Rs 1.14 lakh crore. With this, the total tax mop-up in the state grew 17.5% during the fiscal. The rise in commercial activity after the lifting of Covid-related restrictions during the year coupled with are among the key reasons for Growth in ... 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With this, the total tax mop-up in the state grew 17.5% during the fiscal. The rise in commercial activity after the lifting of Covid-related restrictions during the year coupled with are among the key reasons for Growth in ... 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