Staff Reporter
ITANAGAR, Sep 30: Deputy Chief Minister (DCM), Chowna Mein on Monday said that there has been huge growth in the state revenue collection after the implementation of GST. Addressing the media persons here at Civil Secretariat, Mein said that the collection for the Financial Year (FY) 2018-19 from GST was Rs. 569.41 crore which is a 111% growth in comparison with 9 months of the previous financial year.
“Arunachal Pradesh is one of the few states to record positive growth since the implementation of GST and so not entitled to receive compensation from the government of India,” Mein said.
While the other states are Mizoram, Manipur, Nagaland and Sikkim but Arunachal Pradesh topped the list in current FY 2019-20 with a collection of Rs. 304.74 crore, he added.
Mein said that the most striking feature of GST implementation in the state has been an exponential growth in the number of registered dealers.
Sustained efforts for widening of tax base, in the form of Taxpayer outreach programme , market surveys were made, which have resulted in 140% growth in the assesses base, he added.
He said the recent announcement by the Finance Minister Nirmala Sitharaman will ultimately lead to the fast growth in industrial development and benefit a large number of small traders and public.
Mein further said that the announcement of merging 10 public sector banks to form 4 banks will increase Current Account Savings Account (CASA) and more public relations will make the merger of banks profitable and doing so will not hamper their activities.
