Assam's GST Adoption Triggers 12-fold Increase in Tax Collection
Assam's GST Adoption Triggers 12-fold Increase in Tax Collection

TRIPURA:  Union Finance Minister Nirmala Sitharaman disclosed that the adoption of Goods and Services Tax (GST) in Assam has resulted in a remarkable twelve-fold surge in tax collection. Addressing the Investiture Ceremony of the Central Board of Indirect Taxes and Customs (CBIC), Sitharaman hailed the success of GST collection and devolution in the northeastern states. According to the 2023 RBI assessment on state budgets, the region has witnessed a compounded yearly increase of 27.5 per cent in GST revenues.

Highlighting the pioneering role of Assam, Sitharaman pointed out that the state ratified the GST Act just four days after its passage. Since then, the tax revenue has soared exponentially. Previously, Assam's sales tax collection amounted to Rs 558.26 crore, whereas it now stands at an impressive Rs 7,097 crore. The Union Minister also celebrated the achievements of Sikkim and Meghalaya, with the former's revenue rising from Rs 263.5 crore to Rs 3,036 crore and the latter's from Rs 587.21 crore to Rs 2,078 crore.

Sitharaman lauded the tremendous improvement in the system brought about by GST, ultimately benefiting the people in various ways. She emphasized the importance of further enhancing the Customs Stations' capabilities in the northeast. Currently, there are 25 operational Land Customs Stations (LCS), 15 of which have electronic facilities. The Minister urged the authorities to equip all LCSs with computerized tools to detect and prevent smuggling effectively by December.

As part of her two-day visit to Assam and Tripura, Sitharaman encouraged continued efforts to harness the advantages of GST adoption, promoting economic growth and prosperity in the region.

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