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In a measure to stringent the Goods and Services Tax ( GST ) net, India’s Revenue Secretary, Sanjay Malhotra, is taking the helm in a measure complying with a rise in the tax collections. The same conduct is towards the rise in a record-breaking Rs 2.10 lakh crore collected through GST collection in April 2024, […]
Gross Goods and Services Tax collections of India attained a record high of Rs 2.10 lakh crore in April, increasing 12.4 per cent on a year-on-year basis, the Finance Ministry stated. In March the GST collection stood at Rs 1.78 lakh crore. Earlier Rs 1.87 lakh crore in April 2023 is the highest-ever GST collection […]
The Revenue Authorities needed to tax the correct person accurately and will not disallow the eligible deductions on mere technicalities, New Delhi ITAT stressed. The Bench of M. Balaganesh (Accountant Member) and Yogesh Kumar U.S (Judicial Member) followed that “the Revenue has rejected the plea of the Assessee based on mere technicalities and it is […]
The Central GST & Excise Commissionerate at Surat in a bid to fulfil the revenue targets set for the current financial year has issued a critical direction to all Grade A & B officers. The office circular, 07.02.2024, follows the D.O. dated 18.01.2024 from the Chief Commissioner, Vadodara Zone. Important: Latest Official Updates Under GST […]
Punjab finance minister Harpal Singh Cheema availed that the tax revenue from goods and services tax (GST), excise, and value-added tax (VAT) in the 10 months of the fiscal year (FY) 2023-24 had crossed the figure of 30,000 crores with a 15.67% rise in GST and 10% growth in revenue from excise as compared to […]
Certain clarifications and confirmations for the future start of the functioning of the GST appellate tribunals have been made by Revenue Secretary Sanjay Malhotra. Between taxpayers and the tax system, the tribunal is to address the problems and is gearing up to initiate its proceedings in July or August. Mr. Malhotra is feeling positive about […]
The Delhi High Court, in the case of Sulender Shah v. Additional Commissioner/Joint Commissioner CGST [W.P.(C) NO. 15766 OF 2023 dated December 7, 2023], instructed the Revenue Department to electronically issue the summary of Show Cause Notice and Demand using Form GST DRC-01 & Form GST DRC-02. This ruling emphasized that the summary of Demand […]
In December, the combined GST revenue gathered by central and state governments amounted to ₹1.64 trillion, slightly under the average of ₹1.66 trillion per month for the year. However, this still marked a significant 10.3% increase compared to the previous year’s figures. In December 2022 nearly Rs 1.5 trillion is been collected by the Centre […]
In October 2023, India recorded gross GST collections of Rs 1.72 lakh crore, marking a 13.4% rise from the previous year. Over the six years since its inception, the New GST system has notably enhanced tax buoyancy, streamlined logistics, improved tax administration, and fostered increased formalization, among other benefits. Consistent growth in tax collections is […]
