Page 4 - Gst Collections

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

Inflation, imports main reasons for record GST collections, says report

The ministry attributed the robust mop-up to its tightened compliance measures and a crackdown on GST evaders and fake bills

Tax administration finally being cleaned up, being made more efficient

GST collections dropped below the Rs 1.2 trillion mark only once in the last six months. These are astounding statistics for a tax system that naysayers had written off as being a failure.

Odisha registers 49% growth in gross GST collection in 2021-22

The officials informed that the growth in GST is mostly driven by mining and manufacturing sectors

Top headlines: Ayci declines AI CEO role; Indian student dies in Ukraine

Business Standard brings you the top headlines on Tuesday

Tripura's economy sees lifeline in GST collection, resource mobilisation

Even after Covid hit economy, Tripura Finance Minister and experts said that better GST collection and efficient resource mobilisation would boost economic situation or at least normalise the position

Share of GST revenue from imports nearly constant since 2014

GST revenue from imports - The Indian imports have grown especially from China and so is import IGST. But as a proportion of total GST collections, revenue from imports has remained the same.

GST collection in Jan crosses Rs 1.3-trn mark for fourth time in FY22: Govt

Revenues for month of January 2022 were 15% higher than GST revenues in the same month last year and 25% higher than the GST revenues in January 2020