Gross GST collection rose 10 per cent to over Rs 1.62 lakh crore in September, crossing the Rs 1.6 lakh crore mark for the fourth time during current financial year.
Gross GST revenue collected last month was Rs 1,62,712 crore. Of this, Central GST was Rs 29,818 crore, State GST was Rs 37,657 crore, Integrated GST was Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess was Rs 11,613 crore (including Rs 881 crore collected on import of goods).
The revenue in September 2023 was 10 per cent higher than the GST revenue of Rs 1.47 lakh crore in the same month last year, the finance ministry said in a statement.
"During the month, revenues from domestic transactions (including import of services) are 14 per cent higher than the revenues from these sources during the same month last year. It is for the fourth time that gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24," it said.

GSTGST

The combined market valuation of five of the top 10 most valued firms declined by Rs 62,586.88 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit, amid an overall bearish trends in equities.
Last week, the BSE benchmark fell 180.74 points or 0.27 per cent, and the Nifty declined 35.95 points or 0.18 per cent.
The market valuation of TCS plunged Rs 26,308.58 crore to Rs 12,91,919.56 crore.
Infosys witnessed an erosion of Rs 25,296.43 crore from its valuation which was at Rs 5,95,597.10 crore.
The market valuation of Reliance Industries fell by Rs 5,108.05 crore to Rs 15,87,553.37 crore and that of Hindustan Unilever declined by Rs 3,865.08 crore to Rs 5,79,373.96 crore.
The market capitalisation (mcap) of HDFC Bank dipped Rs 2,008.74 crore to Rs 11,57,145.86 crore.
However, the mcap of Bajaj Finance jumped Rs 20,413.41 crore to Rs 4,73,186.41 crore.
Bharti Airtel added Rs 8,520.13 crore to Rs 5,19,279.14 crore in its valuation while

Jindal Steel & Power "completely and categorically denies signing of any agreement or committing to any investment in Venezuela," according to a statement

Jindal Steel and Power Ltd (JSPL)

Jet fuel or ATF price on Sunday was hiked by 5 per cent -- the fourth straight monthly increase since July, and commercial cooking gas (LPG) rates were raised by a steep Rs 209 per 19-kg cylinder, in line with the firming up seen in international benchmarks.
However, the price of domestic LPG - the one used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder.
Aviation turbine fuel (ATF) price was increased by Rs 5,779.84 per kilolitre, or 5.1 per cent, in the national capital to Rs 118,199.17 per kl from Rs 112,419.33, according to a price notification of state-owned fuel retailers.
The increase comes on back of the steepest-ever 14.1 per cent increase (Rs 13,911.07 per kl) effected on September 1, and a 8.5 per cent or Rs 7,728.38 per kl increase on August 1.
The fourth straight increase in prices of jet fuel, which makes up for 40 per cent of an airline's operating cost, will increase the burden on already financially strained airlines.

ATF, Jet fuel prices

Starting from October 1, the carbon border adjustment mechanism (CBAM) will be applicable to exports of cement, iron and steel, aluminium, fertilisers, and hydrogen to the EU

carbon border tax

The price of 22-carat gold fell Rs 600 to Rs 53,900

Gold

Executives from Microsoft met with Apple's services chief, Eddy Cue, who brokered the current search engine relationship with Alphabet Inc.'s Google, to discuss the possibility of acquiring Bing

Microsoft Bing

Hui's accelerating downfall creates fresh uncertainty over the fate of Evergrande after setbacks to its restructuring plan in recent days roiled markets and raised the risk of a liquidation

Evergrande Group chairman Hui Ka Yan

Pointing to the increasing influence of India worldwide, Trudeau said that it is "extremely important" that Canada and its allies continue to engage with India

Canadian Prime Minister Justin Trudeau

The two leaders held discussions on a full range of issues, including key outcomes of India's G20 presidency

Jaishankar, Blinken

This comes after the spending bill didn't include new aid for Ukraine. Biden also called on the Republicans to keep their word about support for Ukraine

Joe Biden, Zelenskyy

His remark came in wake of a recent order of the Canada government which makes it compulsory for online streaming services to formally register with the government for 'regulatory controls'

Elon Musk

At the same time, CCP is also pushing for peaceful unification by extending economic benefits to Taiwanese businesses and introducing other preferential policies, it added

China Taiwan Flag

Here is the best of Business Standard's opinion pieces for today

indian firms, economy

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Gross GST collection rises 10% to over Rs 1.62 trillion in September

M-cap of 5 of 10 valued firms decline by Rs 62,586 cr; TCS biggest laggard

Jindal Steel denies it agreed to invest in Venezuela's iron ore plant

ATF price increases by 5% in 4th straight hike, commercial LPG up by Rs 209

Indian companies prep for EU's CBAM as transitional phase kicks in

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