GST collection in May witnesses 97.29% rise
Prayagraj: The State Goods and Services Tax (SGST) department of Prayagraj zone has achieved a remarkable milestone in May 2025 by recording a historic GST collection of Rs 357.64 crore.
This marks an astonishing 97.29% growth as compared to May 2024, when the department collected Rs 181.28 crore.
Remarkably, this is the third time since the implementation of GST in July 2017 that the department crossed the Rs 350 crore mark in monthly revenue. The department previously hit a record high in April 2025, collecting Rs 406.37 crore. According to the officials this surge in revenue could be clearly attributed to the large-scale religious event, Maha Kumbh, held in Prayagraj.
The event significantly boosted business activities across sectors such as tourism, hospitality, transportation, and retail.
Adding to the city's achievement, while the overall GST collection growth across Uttar Pradesh stood at 12.89% for May, Prayagraj alone recorded a phenomenal increase, reinforcing its importance as a major contributor to the state's economy. The transport sector alone contributed approximately Rs 40 crore due to increased logistics and transport activities during Maha Kumbh.
Additional commissioner of the State Commercial Tax department Dinanath acknowledged the committed efforts of officers and staff, along with timely return filings by taxpayers, as key factors behind the impressive figures. He added that if this trend continues, future months may witness even higher collections.
"This robust growth is a clear indicator of a recovering and thriving economy, reflecting increased compliance, economic activity, and effective departmental strategies. Collection increased due to the combined efforts of the officers and employees of the department," he said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
7 minutes ago
- Time of India
Wendt (India) continue to focus on product development, customer acquisition to boost growth
Wendt India, a Murugappa Group company, plans to boost growth. The company will focus on product development and new customers. They aim to correct prices and acquire distributors. Super Abrasives sales rose last year. Domestic sales increased in the auto, steel, and engineering sectors. The company addresses supply chain issues through planning and vendor collaboration. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Wendt (India) Ltd, an abrasive and precision component manufacturer, will continue to focus on product development , new customer acquisition , price correction among others, aimed at boosting business growth, the company said on company, part of the diversified conglomerate Murugappa Group , would also take initiatives on identifying and onboarding automobile, steel and engineering industry specific distributors in overseas markets witnessing an increase in sales in Super Abrasive business last financial year, Wendt (India) said in its annual Super Abrasive business achieved sales of Rs 140.54 crore, which is higher by 7 per cent over the previous year. The domestic Super Abrasives sales also grew by 9 per cent over last year."This is the highest ever sales for the domestic Super Abrasives business. The higher sales were from industries like auto, auto-ancillaries, steel, bearings, engineering, and cutting tools," the company said. The increase in sales was in the backdrop of initiatives taken by the company, which include product development, key account management for top customers, appointment of precision dealers, deployment of successful applications, among Super Abrasive business segment comprises manufacturing diamond and grinding wheels, rotary dressers, hones, and it is the biggest business vertical of the company. "The company continues to take several initiatives, including deployment of successful applications and products, entering new markets, leveraging all its products as a complete package solution to serve customers better, to grow the business," the company said in its (India) is a preferred supplier for many automobile, auto-component, engineering, aerospace, defence customers for their Super Abrasive Tooling solutions, and also Grinding and Honing machines, and precision components. Some of the industries that use these kinds of components are the automobile and ancillary and in the manufacturing of aircraft overseas business, Wendt India said it witnessed a marginal increase of 2 per cent in its exports during the last financial year under the Super Abrasives segment. The rise in exports was due to reduced off-take from key customers in a few the machine tools business, the company said it witnessed an 8 per cent decline in sales to Rs 43.64 crore in the last financial year due to a delay in orders and customers deferring purchase due to 'adverse economic situation'."The company continues to mitigate supply chain issues by better planning, bulk ordering of some of the critical parts for the year, working closely with critical vendors, and by developing alternative vendors," the report added.
News18
15 minutes ago
- News18
CONCOR Announces 1:4 Bonus Issue, Sets Record Date For Next Week
Last Updated: CONCOR Bonus Issue 2025: CONCOR declares bonus issue share in the ratio of 1:4. CONCOR Bonus Issue 2025: Container Corporation of India (CONCOR) has recommended the issue of bonus shares in the ratio of 1:4, i.e. 1 (one) new equity shares of Rs 5 each for every (4) existing equity shares of the company. Navratna rail company has fixed Friday, July 04, 2025, as the record date for determining the eligibility of shareholders for issuance of bonus shares, which is subject to approval of shareholders. In continuation to our letter dated May 28, 2025, informing the Dispatch of Postal Ballot for seeking Shareholders approval for issue of Bonus Shares in the ratio of 1:4 i.e. 1 (One) new fully paid-up Equity Shares of Rs.5/- each for every 4 (four) existing fully paid-up Equity Share of the Company. In this regard, it is hereby informed that the Company has fixed Friday, July 04, 2025, as the Record Date for determining the eligibility of shareholders for issuance of Bonus Shares, which is subject to approval of shareholders," the company said in the filing. CONCOR has a market cap of Rs 44,959 crore, and is part of BSE 200. CONCOR Final Dividend 2025 CONCOR's final dividend for FY25 remained at Rs 2 per equity share with ex-date on June 06, 2025. Earlier, it announced two interim dividends of Rs 3.25 and Rs 4.25, respectively for FY25. The state-run rail logistics company reported a 1.6% decline in fourth-quarter profit on Thursday, impacted by a drop in revenue from its domestic cargo services. The consolidated net profit fell to Rs 298.5 crore for the three months ending March 31, down from Rs 303 crore in the same period last year. CONCOR shares gained 3 per cent last week to settle at Rs 757 apiece, with the 52-week high and low at Rs 1,075 and Rs 601.25, respectively. First Published:
Time of India
17 minutes ago
- Time of India
India has set $1 billion turmeric export target by 2030: Union Minister Amit Shah
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Union Home Minister Amit Shah on Sunday said the Centre has set a target of achieving USD one billion in turmeric exports by a gathering after the inauguration of the National Headquarters of Turmeric Board in Nizamabad, he said the board would focus on packing, branding, marketing and export of the turmeric board would work towards ensuring remunerative prices for farmers, export of their produce, besides research and development, he said."You will be surprised to know that the Indian government has set the goal of exporting USD one billion worth of turmeric by 2030. And, we have also made full preparations to achieve the goal of exporting USD one billion to international markets. The (Turmeric) board that will be formed will work to ensure that the highest price of turmeric reaches the farmers," he further said, during the 2023 assembly elections, Prime Minister Narendra Modi had promised to establish a Turmeric board in Telangana, and orders in this regard were issued Union Coal and Mines Minister G Kishan Reddy and other leaders received Amit Shah when he arrived at Hyderabad's Begumpet to X, BJP's Telangana unit earlier on Sunday said Prime Minister Narendra Modi who had earlier announced the establishment of the turmeric board has now fulfilled the dream of farmers as per the word given to Modi has allocated Rs 200 crores to improve the quality of turmeric crop, carry out research and to improve farmers' income, it establishment of the Turmeric Board has been a major demand of the turmeric farmers in Nizamabad and it was also a key election Lok Sabha member from Nizamabad D Arvind, who had promised to set up the turmeric board, had defeated BRS MLC and then Chief Minister K Chandrasekhar Rao's daughter K Kavitha in the 2019 Lok Sabha elections. He was re-elected in 2024.
