GST collection, devolution a success story in Northeast: Finance Minister Nirmala Sitharaman

The North Eastern States have scripted a success story in the collection and devolution of the Goods and Services Tax (GST), Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said, in Guwahati, on July 21.

The northeastern States have scripted a success story in the collection and devolution of the Goods and Services Tax (GST), Union Minister for Finance and Corporate Affairs Nirmala Sitharaman said, in Guwahati, on July 21.

“According to the 2023 RBI report on State finances, the eight northeast States have registered a compounded annual GST hike of 27.5%,” she said.

Ms. Sitharaman was speaking at the Investiture Ceremony for conferring the Presidential Award for ‘Specially Distinguished Record of Service’ to officers and staff of the Central Board of Indirect Taxes and Customs (CBIC).

“Assam was the first State to ratify the GST Act, four days after it was passed and since then there has been a 12 times increase in the collection of taxes,” the Minister said.

Assam's sales tax collection prior to the implementation of the GST was ₹558.26 crore but this has increased manifold to ₹7,097 crore.

“Sikkim and Meghalaya too have registered a significant achievement with the former’s collection increasing from ₹263.5 crore to ₹3,036 crore and the latter’s from ₹587.21 crore to ₹2,078 crore,” she said.

''GST has brought about a significant improvement in the system which has not only benefited the States but ultimately the people as well'', Ms. Sitharaman said.