Gst Collection

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Gst Collection - Total results - 26
GST collections fall to Rs 87,422 crore in July from Rs 90,917 crore in June
Business

GST collections fall to Rs 87,422 crore in July from Rs 90,917 crore in June

However, July collections are higher than Rs 62,009 crore in May and Rs 32,294 crore in April.

Parliamentary panel suggests lower GST rate, uniform road tax for auto sector until its revival
Business

Parliamentary panel suggests lower GST rate, uniform road tax for auto sector until its revival

A parliamentary panel had examined the Demands for Grants 2020-21 of Department of Heavy Industry (DHI) and tabled its report in Parliament

GST collection crosses Rs 1 lakh cr mark for third month in a row in January; in line with set target
Business

GST collection crosses Rs 1 lakh cr mark for third month in a row in January; in line with set target

The GST collection is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after a high-level meeting with senior tax officials earlier this month.

GST rate slabs likely to be restructured post-Budget; Centre, state govts to discuss new rates: Report
Business

GST rate slabs likely to be restructured post-Budget; Centre, state govts to discuss new rates: Report

As of now, there are four slabs under the GST regime — 5, 12, 18 and 28 percent. Goods and services under the 28 percent category also attract cess over and above the rate, which ranges between 1 and 25 percent.

GST Council meeting on 18 December: Tax rates may go up for various items to compensate revenue shortfall
Business

GST Council meeting on 18 December: Tax rates may go up for various items to compensate revenue shortfall

With pressure on revenue collection, the Goods and Services Tax (GST) rates and slabs may be raised during the GST Council meeting next week

Fitch raises India's FY20 fiscal deficit forecast to 3.6% of GDP on weak revenue collections
Business

Fitch raises India's FY20 fiscal deficit forecast to 3.6% of GDP on weak revenue collections

Fitch said it was revising the fiscal deficit forecast as revenue collection may fall far short of the projections in the FY2019/20 Union Budget due to weak GST and corporate income tax collections.

Decline in GST revenue to have a direct impact on ITC as govt may turn to tobacco to hike tax
Business

Decline in GST revenue to have a direct impact on ITC as govt may turn to tobacco to hike tax

A high-level panel constituted by the government to suggest measures to augment GST revenue collection will hold its first meeting today.

PMEAC Chairman Bibek Debroy’s warning on economic slowdown shows govt’s top advisors aren’t living in denial any longer
Business

PMEAC Chairman Bibek Debroy’s warning on economic slowdown shows govt’s top advisors aren’t living in denial any longer

The PMEAC chairman’s warnings and prescriptions should be an eye-opener to the government in the present economic scenario

GST panel unlikely to favour tax rate cut for auto, component sectors; revenue losses major concern for govt
Business

GST panel unlikely to favour tax rate cut for auto, component sectors; revenue losses major concern for govt

The auto sector, which has been reeling from the worst slump in nearly two decades, has pushed for a lowering of tax rates at the 20 September GST panel meeting, in a bid to revive vehicle demand.

Maharashtra GST collection up 6.4% in Q1 at Rs 46,587 cr; sets target to become $1-trillion economy by 2025
Business

Maharashtra GST collection up 6.4% in Q1 at Rs 46,587 cr; sets target to become $1-trillion economy by 2025

Maharashtra's share in GST collection was 14.44 percent in FY19, when the state collected Rs 1.7 lakh crore while the national GST collection in FY19 was Rs 11.77 lakh crore, he said.

Govt close to meeting fiscal deficit target of 3.4% for 2018-19: Finance Secretary Subhash Chandra Garg
Business

Govt close to meeting fiscal deficit target of 3.4% for 2018-19: Finance Secretary Subhash Chandra Garg

The government in the interim Budget in February revised upward the fiscal deficit target to 3.4 percent from 3.3 percent of GDP estimated earlier

GST officers prodding businesses to deposit taxes by 31 March to meet fiscal target; govt likely to release data by 10 April
Business

GST officers prodding businesses to deposit taxes by 31 March to meet fiscal target; govt likely to release data by 10 April

The government had lowered the GST collection target for 2018-19 fiscal to Rs 11.47 lakh crore in the revised estimates, from Rs 13.71 lakh crore budgeted initially.

Is economic growth slowing down if average daily GST collection is at new high? This is what data says
Business

Is economic growth slowing down if average daily GST collection is at new high? This is what data says

We need a detailed discussion on average daily GST collection data to understand one dimension of economic growth and verify whether the economy is on the right track

GoM on revenue shortfall to study GST collection on services by states: Bihar deputy CM Sushil Modi
Business

GoM on revenue shortfall to study GST collection on services by states: Bihar deputy CM Sushil Modi

The panel has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of the Goods and Services Tax (GST)

Fiscal deficit target of 3.3% for 2018-19 could be a challenge, likely to be breached, say experts
Business

Fiscal deficit target of 3.3% for 2018-19 could be a challenge, likely to be breached, say experts

Government's fiscal deficit touched 114.8% of the full-year estimates at the end of November

Simplified GST return forms to be rolled out from 1 April: Revenue Secretary Ajay Bhushan Pandey
Business

Simplified GST return forms to be rolled out from 1 April: Revenue Secretary Ajay Bhushan Pandey

Revenue Secretary exuded confidence that the government will achieve the budgeted target for Goods and Services Tax (GST) collection

Revenue secretary Ajay Bhushan Pandey says excise duty hike on petroleum products needs 'analysis'
Business

Revenue secretary Ajay Bhushan Pandey says excise duty hike on petroleum products needs 'analysis'

In face of mounting public pressure, the Centre had in October cut excise duty by Rs 1.50 per litre on both petrol and diesel

Rupee to hit 73 by March 2019; fiscal deficit to reach 6.5% in FY19 on shortfalls in GST collection and divestments: UBS
Business

Rupee to hit 73 by March 2019; fiscal deficit to reach 6.5% in FY19 on shortfalls in GST collection and divestments: UBS

A country's external balances are one of the key factors influencing the currency and weakness in it has led to a 12 percent depreciation in the rupee till now, it said

Govt targets roll out of new GST return forms by 1 January, says Hasmukh Adhia
Business

Govt targets roll out of new GST return forms by 1 January, says Hasmukh Adhia

The GST Council had in its last meeting on 4 May approved the design of new return forms.