GST collection in Tripura sees 16.07 pc growth, Excise Duty and Vehicle Tax collection surge
GST collection in Tripura has increased by 16.07 percent this year. Till January 2024, the GST collected in the state is Rs.3303.58 crore. Also, other tax and non-tax revenue collections have witness growth.
In a recent press conference held in Agartala on Tuesday, Secretary of the Finance Department, Apurba Roy, presented statistics regarding the state's revenue collection. The data reveals a positive trend across various tax categories, reflecting the state's economic resilience.
Here are the key highlights:
1. GST Collection Surges: The Goods and Services Tax (GST) collection in the state has witnessed a remarkable 16.07 percent increase this year. As of January 2024, the state has collected a substantial Rs. 3,303.58 crore in GST, compared to Rs. 2,846.31 crore during the same period last year.
2. Excise Duty Boost: The state's excise duty collection has also seen significant growth. From January 2023 to January 2024, the excise duty collected amounted to Rs. 327.90 crore, marking a 10 percent increase compared to the previous year's Rs. 298.08 crore.
3. Vehicle Tax revenues rise: Vehicle tax collections have surged as well. The state collected Rs. 108.69 crore in vehicle taxes by January 2024, up from Rs. 96.11 crore during the corresponding period in 2023. This represents a 13.09 percent increase year-on-year.
4. Sales Tax flourishes: Sales tax revenue has experienced robust growth, reaching Rs. 428.32 crore by January 2024. In contrast, the sales tax collection stood at Rs. 367.67 crore till January 2023. This impressive 16.50 percent increase reflects the state's economic vitality.
5. Overall revenue collection: The state's overall revenue tax collection, including GST, excise duty, and sales tax, stands at Rs. 2,656.86 crore as of January 2024. This represents a 7.81 percent rise compared to the Rs. 2,464.45 crore collected till January 2023.
6. Non-Tax Sector flourishes: Notably, the non-tax sector has also witnessed remarkable growth. The state's total revenue collected in this sector has surged to Rs. 337.28 crore, a 7.24 percent increase from the Rs. 314.50 crore recorded till January 2023.
Besides, Apurba Roy also shed light on Administrative Appointments. He said, 10 Lower Division Clerks (LDCs) have already been appointed in the Directorate of Treasury through the Joint Recruitment Board of the Treasury (JRBT).
Moreover, the state plans to recruit 23 more Senior Computer Assistants through the Technical Personnel Selection Test (TPST).
Furthermore, initiatives are underway to fill 32 non-technical vacancies across various departments within the Treasury Department.
The secretary also said that the state finance department has taken the initiative to implement the new version of IFMS 2.0 (Integrated Financial Management System) in order to make financial management more efficient.
In this regard, a team led by Additional Secretary Finance Akinchan Sarkar has received training from Rajasthan.