61 pc of tax revenue comes from GST
Srinagar, Mar 06 (KNO): Jammu and Kashmir’s tax revenue collection has shown consistent growth in 25, with monthly collections averaging rupees 1,180 crore, according to official estimates.
According to an official document obtained by the news agency—Kashmir News Observer (KNO), the total tax revenue for FY24 stood at Rs 13,903 crore, registering a 13 per cent growth over FY23. By Q3 of FY25, the collection had already reached Rs 10,624 crore, which is 76 per cent of the total revenue collected in FY24.
The monthly average tax revenue has increased from rupees 1,158 crore in FY24 to rupees 1,180 crore in FY25, indicating sustained growth, data shows.
Meanwhile, the GST collections contribute 61 per cent of total tax revenue, amounting to rupees 6,527 crore so far in FY25. Excise revenue has grown by 4 per cent and is projected to reach Rs 2,000 crore by the end of FY25.
As per the data, the sales tax (12 per cent), vehicle tax (6.5 per cent), and stamp/registration fees (4.9 per cent) are other key revenue contributors—(KNO)
