Nagpur: According to official data, the Nagpur Zone Central Goods and Services Tax (CGST) revenue collections have hit a record high of Rs 16,909.33 crore for the period April 1 to March 31 of financial year 2022-23.
This represents a significant increase of Rs 2,423.73 crore or a growth of 16.73% as compared to the previous financial year 2021-22, during which the Nagpur Zone CGST collections were Rs 14,485.60 crore.
Wenesday Rate
Wed 25 Dec. 2024
The major contributors towards this growth in revenue collections are reported to be the coal, steel, cement, and automobile sectors. The rise in prices of raw materials and finished products, attributed to high inflation, has contributed to the higher collections. Some of the major companies that have contributed to these record revenue collections include WCL, Skoda, Manikgarh Cement, Ultratech Cement, and Maratha Cement.
The Nagpur Zone CGST Department covers 24 districts, including 11 of Nagpur Division, 8 of Aurangabad Division, and 5 of Nashik Division. The record revenue collections in Nagpur Zone suggest a pick-up in economic activity, which is good news for the overall economy.
