Substantial Increase in Tax Collection in Tripura Over the Past Year

Northeast Desk, 27th February: A senior official announced on Tuesday that the overall tax collection in Tripura has witnessed significant growth over the last year.

According to the official, Goods and Service Tax (GST) collection has surged by 16 per cent, rising from Rs 2014.32 crore in the 2022-23 fiscal to Rs 3,302.58 crore in the 2023-24 fiscal until January.

Finance Secretary Apurba Kumar Roy, while addressing reporters, highlighted that state excise collection has also experienced a notable increase, growing from Rs 298.08 crore to Rs 327.90 crore during the same period, reflecting a 10 per cent rise.

Furthermore, sales tax collection has seen a commendable uptick of 16 per cent, climbing from Rs 367.67 crore to Rs 428.32 crore during the aforementioned period.

The minister informed that the state’s revenue has risen from Rs 2,445 crore to Rs 2,656.86 crore, attributing the increase to the concerted efforts of Tripura government agencies. He underscored that this growth reflects improved fiscal management within the state.

Roy emphasized that financial transactions in government departments are now facilitated through the Integrated Financial Management System (IFMS). He outlined plans to enhance the system to ensure faster financial transactions and greater transparency.

To this end, a team of officials has visited Rajasthan to study their payment system, with plans to implement IFMS in Tripura within the next year, he concluded.

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