Nagaland records 13% GST growth in October

Our Reporter
Dimapur, Nov. 1 (EMN): Nagaland recorded 13% growth of Good and Service Tax (GST) in October 2022, an increase of revenue to 43% as compared to 38% in October 2021.

According to the Ministry of Finance report on Tuesday, the gross GST revenue collected in the month of October 2022 was INR 1,51,718 of which CGST was INR 26,039 crore, SGST was INR 33,396 crore, IGST was INR 81,778 crore (including INR 37,297 crore collected on import of goods) and Cess was INR 10,505 crore (including INR 825 crore collected on import of goods), which was second highest collection ever, next only to the collection in April 2022.

The government has settled INR 37,626 crore to CGST and INR 32,883 crore to SGST from IGST as regular settlement. Centre has also settled INR 22,000 crore on adhoc basis in the ratio of 50:50 between centre and states, and the total revenue of centre and the states after regular as well as adhoc settlements in the month of October 2022 was INR 74,665 crore for CGST and INR 77,279 crore for the SGST, it added.

The revenue of October 2022 for the second time crossed INR 1.50 lakh crore mark, and it also saw the second highest collection from domestic transactions, next only to April 2022. For eight months in a row now, the monthly GST revenues have been more than the INR 1.4 lakh crore mark, the ministry added.