Nagaland's GST Revenue Dips Despite National Surge - Eastern Mirror
Friday, May 24, 2024

Nagaland’s GST revenue dips despite national surge

By Livine Khrozhoh Updated: May 01, 2024 8:29 pm

DIMAPUR — Bucking the national trend of record-high GST collections, Nagaland witnessed a 3% decline in Gross Goods and Service Tax (GST) revenue for April 2024 compared to the same period last year.

While India saw a significant 12.4% year-on-year increase in GST revenue, reaching INR 2.10 lakh crore, Nagaland’s collection fell to INR 86 crore from INR 88 crore in April 2023.

Despite the dip in gross GST revenue, the state’s final SGST figure after settlement reached INR 111 crore, exceeding the initial pre-settlement amount of INR 41 crore.

According to the Ministry of Finance, the national GST growth was driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST revenue for April 2024 stands at INR 1.92 lakh crore, reflecting an impressive 15.5% growth compared to the same period last year.

Breakdown of April 2024 Collections in the country shows that; Central Goods and Services Tax (CGST) is INR 43,846 crore; SGST is INR 53,538 crore, Integrated Goods and Services Tax (IGST) is INR 99,623 crore, including INR 37,826 crore collected on imported goods. Additionally, an amount of INR 13,260 crore, including INR 1,008 crore from cess were collected on imported goods.

In the month of April, 2024, the central government settled INR 50,307 crore to CGST and INR 41,600 crore to SGST from the IGST collected, and this translates to total revenue of INR 94,153 crore for CGST and INR 95,138 crore for SGST for April, 2024 after regular settlement.

Nagaland finds itself among a small group of states and union territories, including Jammu and Kashmir, Sikkim, Arunachal Pradesh, Meghalaya, Lakshadweep, Andaman and Nicobar, that experienced a decline in GST revenue during April 2024 compared to the previous year.

By Livine Khrozhoh Updated: May 01, 2024 8:29:25 pm
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