Page 2 - Gst Collections

Dec 2022 GST collections stand at Rs 1.49 trillion, shows govt data

The GST collections for December 2022 stood at Rs 1.49 trn-- 2.5 per cent more than Rs 1.45 trn collected in November 2022, according to figures released by the Finance Ministry on Sunday

India's economic activity may have slowed down in Nov as resilience wanes

Demand for bank credit remained healthy at 17.2%, even amidst tighter liquidity conditions and higher borrowing costs, Reserve Bank of India data showed

GST Council meeting: Panel for raising threshold for offences to Rs 2 cr

GST Council will also consider a ministerial panel report on setting up GST Appellate Tribunals

Delhi's GST collection in second quarter of FY23 dips by more than 6%

Delhi's Goods and Services Tax (GST) collection in the second quarter of 2022-23 dipped by more than 6 per cent as compared to the first quarter of the fiscal, according to official figures. However, the combined GST collection of the first two quarters of 2022-23 was 28 per cent higher than the corresponding period of financial year 2021-22, showing that the economic situation is recovering from the effects of the COVID-19 pandemic, officials said. The GST collection in the third quarter (October-December) is expected to be higher with a spur in trade and business during the festive season, they added. The GST collection of Rs 14,297 crore in the first quarter (April-June) was Rs 880 crore more than the Rs 13,417 crore collected in July-September. According to the officials, the Delhi government collected Rs 5,871 crore from GST in April, Rs 4,113 crore in May, Rs 4,313 in June, Rs 4,327 crore in July, Rs 4,349 crore in August and Rs 4,741 crore in September. The GST collection o

Aug tax collections decline 7.7%; personal income tax mop-up drops 37%

Direct taxes fall 42% to Rs 34,972 crore, from Rs 60,363 crore in August last year

Centre extends free food grain scheme till Dec at a cost of Rs 45k cr

Move to cost the exchequer additional Rs 44,762 crore

India's $2-billion online gaming industry jolted by taxing times

The $2 billion online gaming industry in India, while grappling with these issues, the online gaming industry should be treated as entertainment and not gambling, as it comes under the games of skill

Delhi govt's GST collection surges 21% to Rs 4,349 crore in August

The Delhi's government GST collection has registered an incremental rise in the first quarter of the financial year 2022-23, standing at Rs 4,349 crore in August, officials said. The GST collection was Rs 4,113 crore in May, and it grew to Rs 4,313 crore in June and further to Rs 4,327 crore in July. In August, it rose to Rs 4,349 crore, showing growth in trade and business in the city and consumer demand despite inflation, they said on Tuesday. In August last year, the GST collection was Rs 3,605 crore, which grew by 21 per cent to Rs 4,349 crore this August. In May 2021, the GST collection was Rs 2,771 crore and Rs 2,656 crore in June 2021. It was Rs 3,815 crore in July 2021.

GST collection sees incremental growth in FY23 first quarter: Delhi govt

The Delhi's government GST collection has registered an incremental rise in the first quarter of the financial year 2022-23, standing at Rs 4,349 crore in August, officials said on Tuesday. The GST collection was Rs 4,113 crore in May, and it grew to Rs 4,313 crore in June and further to Rs 4,327 crore in July. In August, it rose to Rs 4,349 crore, showing growth in trade and business in the city and consumer demand despite inflation, they said. In August last year, the GST collection was Rs 3,605 crore, which grew by 21 per cent to Rs 4,349 crore this August. In May 2021, the GST collection was Rs 2,771 crore and Rs 2,656 crore in June 2021. It was Rs 3,815 crore in July 2021.

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

Sensex drops over 1,000 pts intra-day: Top factors behind Thursday's crash

Index heavyweights, Reliance Industries and Tata Consultancy Services contributed the most to the sharp cuts as they slipped between 2-3 per cent.

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

Bumper GST collections could lead to compensation windfall for states

Extending compensation is a topic that has remained a sticking point in India's federal structure, with not only opposition states but also BJP-governed states speaking about it

GST e-invoicing must for entities with Rs 10 cr turnover from Oct 1

Presently, the process is mandatory for businesses with an annual turnover of Rs 20 cr and above

GST collection jumps 28% YoY in July to second highest ever at Rs 1.49 trn

Collection remains above Rs 1.4 trn for fifth straight month

There is no GST only on air now: Digvijaya Singh's dig at Modi govt

Senior Congress leader Digvijaya Singh on Thursday said that only air has remained out of the purview of the Goods and Services Tax (GST) now

GST had serious defects which worsened over last 5 years: Chidambaram

Asserting that the GST had serious "birth defects" which became only worse over the last five years, the Congress on Friday said the GST laws and their implementation have "wrecked the economy"

Statsguru: Six charts show GST's revenue challenge for Centre, state govts

But a longer-term perspective on state collections raises questions on GST's ability to fulfil certain primary objectives

GST collections slip below Rs 1.5-trn mark in May despite 44% YoY increase

In April, GST collections had touched a record high of Rs 1.68 trillion, surpassing the Rs 1.5-trillion mark for the first time

Officers to face strict disciplinary action for coercive GST collection

However, tax consultants are still sceptical that this instruction will stop coercive recovery for GST payments