Dec 16, 2024 09:29 PM IST
U.P.’s GST income for the interval reached ₹56,687 crore, up from ₹49,282 crore throughout the identical interval final 12 months. Whereas Tamil Nadu and Dadra and Nagar Haveli led with 21% progress, Gujarat and Maharashtra recorded 16%.
Uttar Pradesh has recorded spectacular shopper spending developments, with a 15% progress in Items and Companies Tax (GST) income till November, surpassing the nationwide common of 13%. This progress introduced U.P. nearer to economically superior states like Maharashtra and Gujarat.
This progress introduced U.P. nearer to economically superior states like Maharashtra and Gujarat. (Sourced)
Principal secretary of state tax, M Devaraj, attributed the rise to elevated shopper spending and enhancements in tax compliance. “This growth shows that people in U.P. are spending on goods and services on par with, or even more than, those in wealthier states,” he mentioned.
U.P.’s GST income for the interval reached ₹56,687 crore, up from ₹49,282 crore throughout the identical interval final 12 months. Whereas Tamil Nadu and Dadra and Nagar Haveli led with 21% progress, Gujarat and Maharashtra recorded 16%.
“The data challenges the common perception of U.P. as a low-consumption state. Since GST is based on consumption, the strong growth reflects that people in U.P. are spending at levels comparable to, or in some cases higher than, residents of more affluent states,” a senior state tax division official mentioned.
Items like two-wheelers,17%, three-wheelers, 16%, electronics, 20%, and cosmetics, 9%, noticed notable progress. Nevertheless, sectors like cell telephones, actual property, and bicycles confronted declines.
U.P.’s GST income is anticipated to develop additional as industrial models arrange following investor summits begin manufacturing, an official mentioned.
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Information / Cities / Lucknow / U.P.’s GST income grows 15%, surpassing nationwide common