Gst Reveunes

A month after GST rationalisation, affordability boosts insurance sales

Insurers pass on the full tax benefit to customers, but withdrawal of input tax credit is pushing them to trim commissions, rework product mix and absorb higher costs

Only 2 in 10 consumers felt GST rate cut benefits in 2018-19, shows survey

Only 18 per cent of consumers say GST rate cuts in 2018-19 reached them; half blame brands and retailers for not reducing MRPs, while 78 per cent demand strict enforcement to pass on benefits

Revenue loss? State govts build pressure on Centre after GST reform

Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit

Why your alcohol, fuel bills won't see any reduction under GST 2.0 reforms

Despite sweeping reforms to the goods and services tax, alcohol and petrol remain outside its ambit, shielded by Constitutional provisions and states' heavy dependence on excise revenues

Rollout of GST reforms to bring transparent economy: FM Sitharaman

The 56th GST Council meeting, scheduled for September 3-4 in New Delhi, is set to discuss one of the biggest tax overhauls since the GST regime was rolled out in 2017

GST reform in two steps: Short-term demand boost, long-term rate reset

Apart from policy initiatives targeting the export sector, it is also possible to conceive of more broad-based measures to stimulate domestic demand as an alternative to export demand

From July 2017 to Diwali 2025: India's evolving GST journey explained

As PM Modi promises a fresh round of GST reforms, here's a look at how India's biggest tax reform began in 2017 and how it has shaped the economy over the years

West Bengal's GST revenues rise 12% in July, Tripura leads with 41% surge

Several states posted double-digit growth in GST collections in July 2025, led by Tripura at 41 per cent. However, Mizoram, Jharkhand bucked the trend, reporting declines in revenue during the month

SC to hear online gaming firms' urgent plea for interim relief on GST

In July 2023, during its 50th meeting, the GST Council categorized online games-both skill-based and chance-based-under the 28 per cent GST slab

Indian gaming industry to grow to $8.92 billion in next 5 years: Report

India's gaming sector is currently valued at around $3.1 billion, according to industry estimates

Centre sacrificed large sum of GST revenue to compensate states: Former CEA

The Centre has sacrificed a large portion of revenue from Goods and Services Tax (GST), up to 1 per cent of GDP, every year since the rollout of the new indirect tax regime to fund a 14 per cent compensation guarantee provided to states, former Chief Economic Advisor Arvind Subramanian said on Thursday. Subramanian, who was actively involved in the implementation of the GST regime, also said that it would not be advisable at this point in time to bring petrol and alcohol under the GST. GST was rolled out on July 1, 2017, subsumed 17 taxes and 13 cesses into a 5-tier structure, thereby, simplifying the tax regime. Addressing an event organised by the Centre for Social and Economic Progress(CSEP), Subramanian further said that the GST is a remarkable reflection of cooperative federalism and a counterexample to the narrative of fiscal centralisation by the Centre in the last decade. Subramanian, currently a senior fellow at Peterson Institute for International Economics, said that the

Revenues of top 18 states to grow 8 to 10% this financial year: CRISIL

Revenues of top 18 states, which account for 90 per cent of India's gross state domestic product, are likely to grow at a pace of eight to 10 per cent during the current financial year at Rs 38 lakh crore, according to a CRISIL Ratings report. Last fiscal, the revenues of the 18 states grew by seven per cent, it said. The growth will be primarily driven by robust GST collections and devolution of finances from the Centre, which comprise around 50 per cent of the aggregate state revenues, according to the report. It said while revenue on liquor sales, which is ten per cent of the states' revenues, is expected to remain stable, collections of sales tax imposed on petroleum products and grants recommended by the 15th Finance Commission will be modest. Senior director of CRISIL Ratings Anuj Sethi said that the biggest impetus to revenue growth will continue to come from aggregate state GST collections and also from improved tax compliance and greater formalisation of the economy. Cent

GST collection at Rs 1.74 trillion in June, but growth slows to 7.7%

GST, which completed 7 years of implementation on Monday, has brought happiness and relief to every home through reduced taxes on household appliances and mobile phones, the finance ministry said

7 years of GST: Balancing tech & transformation

The time has come to usher in GST 2.0

Arrest under GST Act should not be based on mere suspicion, says SC

The Supreme Court told the Centre on Thursday that any arrest under the Goods and Services Tax (GST) Act should not be on mere suspicion but has to be based on cogent material and adherence to proper procedure. A bench of Justices Sanjiv Khanna, M M Sundresh and Bela M Trivedi said the material upon which an arrest is made should be verifiable by a magistrate. "An arrest under the Act cannot be on mere suspicion but after proper inquiry and adherence to the procedure laid down under the law. It should be based on material that should be verifiable by the magistrate and certified by the commissioner," the bench told Additional Solicitor General (ASG) S V Raju, who appeared in the court on behalf of the Centre. The ASG replied, "Yes, any arrest made is based on proper material. We do not arrest anybody in the air." The court is hearing a batch of 281 petitions that have challenged various provisions of the Customs Act, the GST Act and the Prevention of Money Laundering Act amid ...

GST helped states earn 24% more than the old regime: FM Sitharaman

She praised the new tax system for being pro-poor and beneficial to 4.4 million small taxpayers and micro, small and medium enterprises (MSMEs)

GST collections hit new record at Rs 2.10 trillion in April 2024, up 12.4%

Driven by domestic transactions and imports, the gross goods and services tax (GST) collections for April 2024 saw a 12.4 per cent year-on-year growth

GST collections hit Rs 1.78 trillion in March, the second highest ever

Net GST collections rise 18.4% in March, 13.4% in FY24

GST dept issues demands, penalties totaling over Rs 19 cr to Ceat Tyres

Tyre maker CEAT Ltd on Wednesday said it has received GST demand and penalties totalling over Rs 19 crore from tax authorities in Maharashtra and Vadodara. The Additional Commissioner, CGST & Central Excise, Vadodara has issued an order for an interest of Rs 3.27 crore along with a penalty of Rs 13.68 crore following a show cause notice (SCN) that was initially issued towards the delay in reflection of input tax credit to the credit ledger, caused due to technical issue of TRAN-1 return, CEAT Ltd said in a regulatory filing. In another case, Deputy Commissioner of State Tax, Maharashtra has issued an order demanding Rs 22 lakh and interest of Rs 26 lakh, together with penalty of Rs 2 lakh on following an SCN initially issued for reversal of input tax credit on non-payment of tax by suppliers. "Interest of Rs 1.59 crore is also levied towards the delay in reflection of Input Tax Credit to the credit ledger, caused due to technical issue of TRAN-1 return," it added. Currently, the ..

Rolling dice on tax changes: Investor interest in real-money gaming sours

Look to take measured bets in casual and mid-core games