Page 3 - Gst Collections

India's total tax receipts likely to exceed Budget Estimate in FY24

Monthly GST mop-up in FY25 could be Rs 1.7-1.8 trillion

GST collection in Oct rises 13% to Rs 1.72 trillion, second-highest ever

Average gross monthly GST collection in FY24 now stands at Rs 1.66 trillion, 11 per cent higher Y-o-Y, said the Ministry of Finance on Wednesday

Higher compliance has boosted monthly GST collections: CBIC chief

CBIC chief Sanjay Kumar Agarwal on Thursday said increased monthly GST collections are mainly on account of higher compliance, and the GST Council's decision to tighten return filing and registration process would help reduce fake ITC claims in evasion prone sectors, including iron and steel. Agarwal said the Central Board of Indirect Taxes and Customs (CBIC) has received suggestions regarding streamlining tax rates in evasion-prone sectors and all that is being discussed. The Goods and Services Tax (GST) collection was Rs 1.87 lakh crore in April and in the first four months of the current fiscal, the collections have averaged Rs 1.67 lakh crore. "The buoyancy of revenue is 1.43 of nominal GDP growth meaning thereby revenue collection is not entirely on account of growth in GDP, but a major contribution is made by increased compliance level," the CBIC chief said at the Ficci Cascade event here. Tax buoyancy explains the relationship between changes in government tax revenue growth

Top headlines: Car sales zoom to new high in Aug, India set for Aditya-L1

Business Standard brings you the latest headlines at this hour

GST mop-up crosses Rs 1.5 trillion for third month in a row; up 12% in May

The collections, tax experts said, reflects a continuation of the good economic performance across states witnessed since last year

Consulting and services sector urge Centre to revisit GST regime

The consulting and services sector has urged the Centre to re-look at the Goods and Services Tax (GST) collection regime.

Top Headlines: Record car sales in 2022, 3rd highest GST collection in Dec

Business Standard brings you the top headlines at this hour

Top Headlines: Record car sales in 2022, 3rd highest GST collection in Dec

Business Standard brings you the top headlines at this hour

GST mop-up about Rs 1.5 trillion in Dec, third-highest ever: FinMin data

Surge of 15% on annual basis; might exceed BE by Rs 1.3-1.4 trillion

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.