Srinagar: Comptroller and Auditor General (CAG) of India has revealed that the tax revenue in Jammu and Kashmir reached Rs 11,707.28 crore in 2021–22, up from Rs 8,876.99 crore the year prior, a rise of 31.88 percent.
“There was an increase in all components of own tax revenue during 2021-22 with respect to the previous year 2020-21 and own tax revenue showed an increase of 31.88 percent with respect to the previous year. SGST, State Excise, and Taxes on sales trade showed a maximum increase of Rs 1,554.95 crore, Rs 435.37 crore and Rs 410.70 crore. The highest percentage increase with respect to 2020-21 was 536.67 percent and 87.02 percent under Taxes on Goods and Passengers and Land Revenue,” according to the CAG.
“Land revenue increased by 87.02 percent from Rs 60.57 crore in 2020-21 to Rs 113.28 crore in 2021-22, while taxes on goods and passengers increased by 536.67 percent from Rs 0.90 crore to Rs 5.73 crore in 2021-22 and other taxes increased by Rs 319.22 crore to Rs 376.60 crore (17.98 percent).”
According to the report, the GST collection in 2021-22 was Rs 6394.31 billion, up from Rs 4839.35 billion in 2020-21, or an increase of Rs 1554.96 billion (32.13 percent).
This includes an IGST advance apportionment of Rs 4334.63 billion.
Non-tax revenue receipts increased by 18.74 percent during 2021-22 with respect to the previous year and the major increase was under power, water supply and sanitation, education, sports art and culture, Police and other miscellaneous heads.
Medium Irrigation and Non-ferrous Mining and Metallurgical Industries showed a decline in receipt with respect to the previous year.
“Receipt under education, sports, art and culture increased by 1,047.16 percent during 2021-22 with respect to 2020-21, due to remittance of Rs 461.61 crore by Chief Accounts Officer (CAO) Samagra Shiksha J&K on account of the salary of teachers,” the report said.
During 2021-22, revenue receipts increased by 13 percent with respect to last year, but it fell short of budget estimates by 39 percent.
J&K’s own tax revenue increased by 32 percent and non-tax revenue increased by 19 percent with respect to the previous year.
There was an increase in Revenue receipts by Rs 6742 crore and an increase in Revenue Expenditure by Rs 6635 crore with respect to the previous year, which resulted in a reduction of the revenue deficit to Rs 31 crore with respect to last year’s revenue deficit of Rs 138 crore.
“The increase in capital expenditure by Rs 589 crore was a major contributor to an increase in fiscal deficit. The government could not keep its fiscal deficit and primary deficit within the projections estimated in the budget. Against the projection of a revenue surplus of Rs 28,337 crore in the budget there was a revenue deficit of Rs 31 crore during 2021-22,” reads the report.