CGST Kutch Commissionerate announces highest ever revenue collection of Rs. 3082 Crores for the Financial Year 2023-24, exceeding the previous financial year’s revenue of Rs. 2695 Crores, by Rs. 387 Crores, with a positive growth rate of around 14.35%.
It is noteworthy to mention that this growth rate of around 14.35% achieved, is more than 2.5% of All India revenue growth of 11.7% for the Financial Year 2023-24 and it is equally mention worthy that the said growth of Rs. 387 Crores, at a growth rate of 14.35%, for the F. Y. 2023-24, has been achieved over and above Rs. 399 Crores growth, at a growth rate of around 17.5%, achieved for the F.Y. 2022-23 and Rs. 373.25 Crores growth, at a growth rate of around 19.5%, achieved for the F.Y. 2021-22. In a nutshell, in the last three financial years, Rs 1159 Crores growth has been achieved, taking the Commissionerate’s annual revenue from Rs 1922.61 Crores to Rs 3082 Crores at a growth rate of more than 60%.
The monthly average revenue of the Commissionerate has also been continuously growing over the years, as it has grown from Rs.160.32 Crores for F. Y. 2020-21 to Rs.191.32 Crores for F.Y. 2021-22, Rs. 224.59 Crores for 2022-23, which has further shot up to around Rs. 256.84 Crores for the financial year 2023-24.
The Return compliance, which stood at 53% in April 2021,has now reached around 90%. The return filing compliance of top 2000Taxpayees, who contribute 90% of the revenue of the Commissionerate, went upto 96% from around 80% at the beginning of the financial year 2022-23.It is also heartening to note that 95% to 98% of the revenue of the Commissionerate has been realised every month of the F.Y. 2023-24, within two days of the due date of return filing, which reveals not only substantial growth of tax compliance, but also promptness with which taxes were being paid, at Kutch.
