The Union Territory of Jammu and Kashmir has registered a substantial growth in collection of Goods and Services Tax (GST) in the month of December, 2022.

As per the state/UT wise data being reflected in a statement issued by the Finance Ministry, J&K has registered an increase of 24 per cent in its GST collection for the month of December, 2022 which is 13 per cent more than the national average.

Additional Commissioner, State Taxes Kashmir, Shakeel Maqbool, while speaking in this backdrop, said that this spurt in GST collection has been recorded due to better tax compliance and reporting coupled with economic recovery. He added that this increase is one of the highest ever monthly growth rates in J&K since the inception of GST.