Page 6 - Gst Collections

At record Rs 1.19 trn, GST collections give FM confidence ahead of Budget

Since the collections were till 6 pm on January 31, some more money is expected to come into the government coffers for the month

Higher compliance, pent-up demand pushed GST mop-up to new high, shows data

Collection hit a record in December 2020, crossing Rs 1.15 trillion, in a sign that faster recovery could really be on its way

GST mop up rose to highest ever level at over Rs 1.15 trillion in December

Mop up was 10.57% higher month-on-month, and 11.65% higher year-on-year despite an elevated base on both yardsticks

GST collections up Rs 1 trn for second month straight, aided by festivals

November collections were 1.42 per cent higher than the same month of the previous year

Experts wary about sustainability of Rs one trillion GST collections

They believe the October mop-up may have resulted from pent-up demand, are sceptical about the post festive season scenario

GST collections cross Rs 1 trillion in October for first time in 8 months

GST collections in October stood at over Rs 1.05 trillion, crossing for the first time Rs 1 trillion mark since February this year, the finance ministry said

GST collection from centrally administered assessees rise 10% in Sept in WB

The GST collection in West Bengal from centrally administered assessees has increased by 10.16 per cent in September 2020 as compared to the same month last year, an official said

Tamil Nadu, 20 more states to borrow Rs 78,452 cr to meet revenue shortfall

The decision comes days after the GST Council failed to reach a consensus on the stalemate over the Centre's proposal of states borrowing against future GST collections to make up for the shortfall.

GST shortfall: Govt allows 20 states to borrow Rs 69,000 crore more

Dissenting states explore legal options, may move Supreme Court

GST Council to discuss compensation issue for third time in a row on Monday

The projected total compensation shortfall in current fiscal stands at Rs 2.35 trillion

Tamil Nadu may go with Option-1 for GST compensation, but seeks tweaks

State reiterates that Centre is bound to compensate the shortfall in GST collections and should find necessary funds for the purpose if there was a shortfall in cess collections

GST collections for Sept may cross Rs 95,000 cr for first time in FY21

The highest GST collections reported in the current fiscal year so far were Rs 90,917 crore in June

India Inc frets over supply mismatches due to launch of e-invoicing in Oct

Says frequent changes in format prevent companies from preparing for it, fears drop in GST collections if made mandatory

Gross GST collections in Aug down 1.11% month-on-month to Rs 86.449 cr

The gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.

Kejriwal writes to PM Modi to consider more viable options for GST

Delhi Chief Minister Arvind Kejriwal on Tuesday wrote to Prime Minister Narendra Modi, appealing to him to consider more legally viable options for providing Goods and Services Tax dues to the states

Tamil Nadu CM urges Centre to revisit options on GST compensation

He asked the government to ensure that the states get their full dues of the compensation in the current year itself

States seek 7 days on options as Centre says GST collection impacted

The coronavirus pandemic was an "act of God" that may even lead to contraction in the economy, says Finance Minister.

Covid-19 impact: July GST collections down 14.6% YoY to Rs 87,422 cr

GST collections in July were 4 per cent lower than June 2020 as well

July GST collection tumbles 14% to Rs 87,422 cr as Covid-19 hits economy

The July collections, which is 84 per cent of last year's numbers, is however, a recovery from the months of April and May

Govt notifies e-invoicing for companies with Rs 500-crore turnover

The move comes as the government is looking at ways to plug evasion amid dismal GST collections with the pandemic driving economy towards recession