Tripura Registers an increment in Collection of Tax, according to Official Records

The overall Tax Collection in Tripura has increased substantially over the last one year, according to a senior official on Tuesday. The Goods and Service Tax (GST) collection has registered a 16 percent increase from Rs. 2014.32 Crore in the 2022-23 fiscal year to Rs. 3,302.58 Crore in the 2023-24 fiscal year till January, the Official said.

Addressing to reporters, Finance Secretary Apurba Kumar Roy said, the collection of state excise has increased from Rs. 298.08 Crore to Rs. 327.90 Crore during the period, recording a 10 per cent hike. Sales tax collection has increased by 16 percent, from Rs. 367.67 Crore to Rs 428.32 Crore during the period. A team of Officials has already visited Rajasthan to learn how they handle the payment system and IFMS will be implemented in Tripura in the next one year, the Official said.

The State’s revenue has increased from Rs. 2,445 Crore to Rs. 2,656.86 Crore, the minister said. Tax collection has increased due to efforts of the Tripura Government agencies. This is the true reflection of better fiscal management in the state, Officials said. Currently, financial transactions are being done in Government departments through the Integrated Financial Management System (IFMS). The system will be updated to ensure faster financial transactions and more transparency, Officials shared.