Gst Collections

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Gst Collections - Total results - 66
GST revenues cross trillion mark for second straight month at over Rs 1.04 lakh crore in Nov
Business

GST revenues cross trillion mark for second straight month at over Rs 1.04 lakh crore in Nov

At Rs 1,04,963 crore, the November 2020 collections were higher than Rs 1.03 lakh crore recorded in November 2019 but were Rs 192 crore lower than October 2020 collections

GST collections cross Rs 1 lakh crore in October for first time in 8 months
Business

GST collections cross Rs 1 lakh crore in October for first time in 8 months

The GST collections had fallen below the psychologically important Rs 1 lakh crore mark as the lockdown imposed to contain the COVID-19 spread dented economic activity

Coronavirus Outbreak: Centre releases Rs 14,103 cr GST compensation to states; more to be released soon
Business

Coronavirus Outbreak: Centre releases Rs 14,103 cr GST compensation to states; more to be released soon

In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry has released about Rs 34,000 crore in two phases to states as compensation for their revenue loss in the goods and services tax (GST) regime

GST collection crosses Rs 1 lakh cr-mark in February; gross revenue up 8% at Rs 1.05 lakh cr
Business

GST collection crosses Rs 1 lakh cr-mark in February; gross revenue up 8% at Rs 1.05 lakh cr

GST revenues during February from domestic transactions have shown a growth of 12 percent over the same month last year

Centre has informally proposed GST rates rejig once a year instead of every 3 months, says Nirmala Sitharaman
Business

Centre has informally proposed GST rates rejig once a year instead of every 3 months, says Nirmala Sitharaman

The central and state governments aren't able to assess what they'll earn through GST in the whole year, Sitharaman said

GST collection in January likely to touch record Rs 1.15 lakh cr on efficient tax administration despite economic slowdown
Business

GST collection in January likely to touch record Rs 1.15 lakh cr on efficient tax administration despite economic slowdown

The GST collection in December 2019 remained at Rs 1.03 lakh crore indicating a pick-up in consumption, which also slipped into slump mode.

GST revenue collection rises above Rs 1 lakh cr-mark for second month in row in December
Business

GST revenue collection rises above Rs 1 lakh cr-mark for second month in row in December

GST revenue collection remained above the Rs 1 lakh crore mark for the second month in a row with December mop-up rising to Rs 1.03 lakh crore as compared to the year-ago period

Govt sets Rs 1.1 lakh cr monthly GST collection target, asks taxmen to buckle up
Business

Govt sets Rs 1.1 lakh cr monthly GST collection target, asks taxmen to buckle up

Amid concerns that the government may fall short of tax collection target in a slowing economy, the Centre has set an ambitious Rs 1.1 lakh crore monthly GST target for the remaining four months of the current fiscal and asked taxmen to step up efforts to achieve the goal

Centre releases Rs 35,298 cr GST compensation to states; govt will not renege on promise, says Nirmala Sitharaman
Business

Centre releases Rs 35,298 cr GST compensation to states; govt will not renege on promise, says Nirmala Sitharaman

The GST Council, the highest decision-making body for indirect tax, is slated to hold its meeting on 18 December.

GST system should be simplified for easy compliance, frequent tweaks in rates will not favour economy: NK Singh
Business

GST system should be simplified for easy compliance, frequent tweaks in rates will not favour economy: NK Singh

On Tuesday, a Parliamentary panel on finance observed that the GST collection slowed down in recent months and asked the government to prevent misuse of input tax credit.

GST mess: Two-and-half years on, much-hyped indirect tax reform needs a major overhaul; govt should launch three-slab structure
Business

GST mess: Two-and-half years on, much-hyped indirect tax reform needs a major overhaul; govt should launch three-slab structure

The GST Act mandates that the states should be given compensation for revenue shortfall of below 14 percent growth for the first five years of the GST roll-out.

GST revenue collection crosses Rs 1 lakh cr after a gap of 3 months in November; up 6%
Business

GST revenue collection crosses Rs 1 lakh cr after a gap of 3 months in November; up 6%

After two months of negative growth, the GST revenue witnessed an impressive recovery with a growth of 6 percent in November 2019 over the November 2018 collections

Govt raises concern over fake invoicing in B2B trade impacting GST collections; Centre to bring more transparency in system
Business

Govt raises concern over fake invoicing in B2B trade impacting GST collections; Centre to bring more transparency in system

This under-reporting has become a challenge for the government, Minister of State for Finance and Corporate Affairs Anurag Thakur said.

GST collections remain subdued at Rs 95,380 cr in October; mop-up below Rs 1 lakh cr-mark for third month in a row
Business

GST collections remain subdued at Rs 95,380 cr in October; mop-up below Rs 1 lakh cr-mark for third month in a row

The Goods and Services Tax (GST) collection in October declined to Rs 95,380 crore, as against Rs 1,00,710 crore in the same month a year ago, as per government data released on Friday

Panel formed to suggest steps for improving GST collections to hold first meeting today
Business

Panel formed to suggest steps for improving GST collections to hold first meeting today

GST collections dropped sharply to a 19-month low in September, mirroring a widening slowdown in the economy triggered by shrinking consumer demand.

IIP contracts by 1.1% in August: Indian economy is waiting for a Santa to cheer it with bags full of money
Business

IIP contracts by 1.1% in August: Indian economy is waiting for a Santa to cheer it with bags full of money

The August IIP numbers was the lowest in seven years showing negative growth of 1.1%

Improvement in sentiment during festive season expected to trigger pick-up in consumption, steel demand: Tata Steel
Business

Improvement in sentiment during festive season expected to trigger pick-up in consumption, steel demand: Tata Steel

Tata Steel India recorded an output of 4.50 million tonne (MT) in the second quarter as against 4.30 MT in the corresponding quarter of the previous financial year

GST collections dip to 19-month low of Rs 91,916 cr in September; 75.94 lakh returns filed: Finance ministry
Business

GST collections dip to 19-month low of Rs 91,916 cr in September; 75.94 lakh returns filed: Finance ministry

The Goods and Services Tax (GST) collection in September declined to Rs 91,916 crore, as against Rs 98,202 crore in the preceding month, as per government data released on Tuesday

Govt unlikely to reduce GST rates for auto, biscuit manufacturers amid fall in revenue collection; fitment panel rejects tax cuts
Business

Govt unlikely to reduce GST rates for auto, biscuit manufacturers amid fall in revenue collection; fitment panel rejects tax cuts

Another concern of the government is that if it succumbs to the pressure of biscuit manufacturers, the sectors that face the same tax rate of 18% may also seek a GST cut