The Central Goods and Service Tax (GST) Department, Nagpur Zone has collected Rs 8,440.45 crore as GST from April 2018 to December 2018. The Customs Duty registered a revenue collection of Rs 1,561.87 crore during the same period, informed AK Pande, principal chief commissioner GST, Central Excise and Customs, Nagpur Zone.
The net Customs revenue was Rs 235.11 crore in December last year while the Integrated Goods and Services Tax (IGST) refund from April to December last year was at Rs 212.48 crore. In December 2018 the IGST Refund was at Rs 26.84 crore.
Nagpur Zone includes Nagpur Customs Chapter Cell, Nasik Customs Chapter Cell and Aurangabad Customs Chapter Cell. The major sectors that contributed towards revenue collection are coal, cement and automobile.
Nagpur Zone covers total 24 districts in Maharashtra including 11 districts of Nagpur Division, eight districts of Aurangabad Division and five districts of Nasik Division.
For composite assesses with a turnover of more than Rs 1.50 crore, the tax sharing formula between the State and Central governments is equal in the ratio of 50:50, while for assesses with a turnover of less than Rs 1.50 crore, the tax sharing formula ratio is 90:10, with the State Government getting a major share.
