Page 6 - Gst Collection

Centre upbeat on Rs 1.5-trillion GST revenue every month from October

GST collections were to the tune of Rs 1.43 trillion in August; in July it was around 1.49 trillion

Direct tax collections may exceed budget targets, CBDT chief says

Gupta added that if the trend continues, direct tax collections for FY23 could exceed the budget target of Rs 14.20 trillion

GST collection rises 28% in August to Rs 1.43 trillion: Finance Ministry

Collections from Goods and Services Tax (GST) rose 28 per cent to Rs 1.43 lakh crore in August, the Finance Ministry said on Thursday. GST collection has remained over the Rs 1.4-lakh-crore mark for the sixth straight month in August. "Better reporting coupled with economic recovery has been having a positive impact on the GST revenues on a consistent basis," the ministry said in a statement. The gross GST revenue collected in August 2022 stood at Rs 1,43,612 crore of which Central GST is Rs 24,710 crore, State GST is Rs 30,951 crore, Integrated GST is Rs 77,782 crore (including Rs 42,067 crore collected on import of goods) and cess is Rs 10,168 crore (including Rs 1,018 crore collected on import of goods), the ministry said. The revenues for the month of August 2022, registered 28 per cent increase than the GST revenues of Rs 1,12,020 crore collected in August 2021.

Animal spirits? Chris Wood surprised by resilience of Indian stock market

Further evidence of economic resilience and animal spirits, according to Wood, is continuing strong goods and services tax (GST) revenues and buoyant retail sales

Centre advances devolution as states hunt for funds, transfers Rs 1.16 trn

Money will help carry out their capital expenditure and welfare spending plans

Do you need to pay 18% GST on rent?

Levying of Goods and Services Tax (GST) on home rent is also worrying people in some quarters. Who all will pay this tax on rent? Let us find out

TMS Ep234: Chinese phones, GST collections, markets, Bharat NCAP rating

Is banning cheap Chinese phones a prudent move? Will bumper GST collections weaken states' case for compensation? Are large caps a better bet for investors? What is Bharat NCAP rating? Answers here

Will bumper GST collections weaken states' case for compensation?

The GST compensation remains a bone of contention between the Centre and states. So, as the GST collections continue to soar, will it hit the states' case which has been demanding its extension?

PM pushes states to boost GST collection at NITI governing council meet

Crop diversification discussed most extensively in NITI governing council meet

Top headlines: Govt nets Rs 1.5 trn at 5G auction; monkeypox death in India

The National Institute of Virology in Pune on Monday confirmed the death of a 22-year-old man from Punnayur in Thrissur district of Kerala as the first case of monkeypox death in India.

GST collection at Rs 1.45 trillion in June, the second highest ever

Average GST collections at Rs 1.51 trillion a month in the first quarter of the current financial year are much higher than the Rs 1.2 trillion derived from the Budget Estimates

Change in GST rates may generate Rs 15K cr a year: Revenue secy Tarun Bajaj

'Implementing GST was challenging in a country like India, which follows a federal structure'

5 years of GST: How far has it lived up to promise of simple tax regime

Goods and Services Tax: Here's a look at the journey so far

GST: More than just a tax reform

Going forward, we also need to look at inclusion of items in the GST from a larger macro perspective

Top Headlines: Standards for shared economy, dilemma over bank licences

India will soon come up with standards for shared-economy services players owing to the rising number of complaints from consumers

GST mop-up hits record high of Rs 1.68 trn in April on robust biz activity

Tops Rs 1.5 trillion for the first time; record collections for 2 months in a row

GST collection rises to an all-time high of Rs 1.42 trillion in March

The robust mop-up could be attributed to the government's tightened compliance measures and crackdown on GST evaders and fake bills

GST collections hit all-time high in March at Rs 1.42 trn

The revenues for the month of March 2022 are 15% higher than the GST revenues in the same month last year

GST collections up 18%, cross Rs 1.3 trn in Feb despite Omicron curbs

Analysts are confident that GST collection for the current financial year will cross the Budget targets

Budget 2022: Settlement for FY19 GST accounts gives states Rs 4,000 crore

Apart from the devolution for this fiscal year, states received an additional Rs 24,227 crore in the Revised Estimates of 2021-22 (FY22) on account of "prior period adjustment of tax devolution"