Gst Collections News
GST collections jump 14% to Rs 1.02 lakh cr in January; revenue figures cross milestone figure thrice this fiscal
The total revenue earned by the central government and state governments after regular settlement in December 2018 is Rs 36,107 crore for CGST and Rs 39,503 crore for SGST.
Income tax concessions, farm relief package and support for small businesses may figure in Piyush Goyal's Budget
Prime Minister Narendra Modi-led government's sixth and final budget before the polls due by May is supposed to be an interim budget or a Vote on Account
GST collections cross Rs 1 lakh crore-mark in January; increase achieved despite tax relief measures: Finance ministry
This is the third time in current fiscal that GST (Goods and Services Tax) collections have crossed the Rs one lakh crore-mark
During the meeting of the GoM, it was pointed out that as much as 80% of the total GST liability is being settled by ITC and only 20% is deposited as cash
Non-filers of GST returns for 6 consecutive months to be barred from generating e-way bills for movement of goods
Central tax officers have detected 3,626 cases of GST evasion/violations cases, involving Rs 15,278.18 crore in April-December period.
GST Council cuts rates on 23 items, rationalises 28 percent slab; TVs, movie tickets and power banks get cheaper
The annual revenue implication of the rate cuts would be Rs 5,500 crore, Finance Minister Arun Jaitley said.
India is one of the few countries in the world with so many GST rates.
GDP growth at 7.1% in Q2: With economy struggling to keep pace, 7.5% full year target looks difficult
The gross domestic product (GDP) growth rates will remain in the news for quite some time now.
Demonetisation and GST: Raghuram Rajan quick to discern headwinds, but loath to read straws in the wind
Rajan and his ilk alas have missed the wood for the trees. While 8 percent growth is indeed desirable, 7 percent clocked last year is nothing to scoff at.
GST collections cross Rs 1 lakh cr in October after a gap of 5 months on back of festive demand, anti-evasion measures
The revenue from goods and services tax (GST) in September was Rs 94,442 crore.
Govt pitches for rating upgrade with S&P, cites macro stability amid depreciating rupee, widening current account deficit
Rising oil prices, their impact on government finances and increasing GST collections figured in the discussions between the Finance Ministry officials and representatives of the global credit rating firm S&P
Under the Goods and Services Tax (GST), implemented on 1 July, 2017, the Centre has to compensate states/UTs for loss of their revenue on account of implementation of the new indirect tax regime.
Collection on account or Central GST is Rs 15,877 crore, State GST (Rs 22,293 crore), Integrated GST (Rs 49,951 crore) and Cess is Rs 8,362 crore (including Rs 794 crore collected on imports).
Swiss brokerage UBS on Tuesday said the Centre should stay away from populist spending ahead of the 2019 general elections to adhere to fiscal deficit targets
Goyal said with more number of people coming under GST, and successful implementation of e-way bill system, there will be scope for rationalisation of tax slabs
Of the total Rs 95,610 crore gross revenue collected in June, Rs 15,968 crore is on account of CGST, Rs 22,021 crore SGST, Rs 49,498 crore (including Rs. 24,493 crore collected on imports) on account of Integrated Goods and Services Tax (IGST) and Rs 8,122 crore from cess
India’s gross domestic product (GDP) grew at 7.7% in the fourth-quarter of the 2017-18 financial year and that was because of GST, believes Adi Godrej
One year of GST: Government could push a raft of anti-evasion measures if compliance or collections dip
Several changes in GST compliance during the initial phase had disturbed businesses and hence there would be a conscious effort to reduce the level of compliances in the coming year
One year of GST: The roller-coaster ride is over and businesses are now prepping to switch to cruise control
If voluntary courting of GST by SMEs can swell the revenue kitty, robust self-policing can add much more to the government's coffers.