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Search results for: GST collection

New System to Enhance GST Collection and Stop Fake Taxpayers

Karnataka Enforces New System to Enhance GST Collection & Combat Fake Taxpayers

Karnataka, the second-highest state in India for Goods and Services Tax (GST) collection, launched a new initiative aimed at improving GST collection by removing fraudulent taxpayers. According to Commercial Taxes Commissioner C. Shikha, a pilot study revealed that the new system successfully removed approximately 30 per cent of fraudulent taxpayers. Once the taxpayers were identified […]

GST Growth Rates Drop in Andhra Pradesh and Telangana States

GST Collections in August Show Tepid Growth for AP and Telangana Compared to Other Southern States

The updated Goods and Services Tax (GST) numbers for Andhra Pradesh and Telangana express a lacklustre scenario for the Telugu states. Both states have shown lower growth rates compared to other southern states as per GST collections in Aug 2024. Andhra Pradesh, for the first time (excluding pandemic years), exhibited negative (-4%) growth, while Telangana […]

GST Revenue Collection in August 2024

August 2024 GST Collection Increases By 10% to INR 1.75 Lakh Crore

Good and services tax (GST) collections in August surged to 10% from the same period of the previous year to Rs 1,74,962 crore, according to the government’s official statement. The same rise was noted in all categories- Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess. In the previous year, the gross GST […]

GST Revenue Collection in May 2024

GST Collection in May 2024 Reaches INR 1.73 Lakh Cr, Lower Than in April

The finance ministry reported the GST collection of May stood at Rs 1.73 lakh crore. It was less compared to Rs 2.10 lakh crore in April but is more than Rs 1.57 lakh crore in May, of the previous year. The May collection has corresponded with the consumption of goods and services claimed in April. […]

Uttar Pradesh Overtakes Tamil Nadu in Monthly GST Collection

UP Surpasses TN in GST Collections By Reporting a 19% Growth

Concerning monthly GST collections, Uttar Pradesh has overtaken Tamil Nadu by recording a 19% rise in tax revenues in April. As per the information, by 19% the GST collections in Uttar Pradesh increased to Rs 12,290 crore in April 2024, becoming the 4th largest contributor after Maharashtra, Karnataka, and Gujarat. Tamil Nadu, which saw a […]

GST Collection for March 2024

GST Collection in March 2024 Secures 2nd Highest Since July 2017

In March 2024 Goods and Service Tax collection rose 11.5 per cent on an annual basis to Rs 1.78 lakh crore, the second highest since the regime came into force in July 2017. In March the rise of GST collection can be attributed to the rise in GST collection from domestic transactions at 17.6 per […]

GST Revenue Collection in February 2024

GST Collection in February Reaches INR 1,68,337 Lakh Crore in 2024

As per the experts the Gross Gross Goods and Services Tax (GST) revenue collected for February 2024 is Rs 1.68 lakh crore, standing a 12.5% rise compared to the identical month in 2023 which depicts the strength of the Indian economy and a powerful consumption level. “A robust 12.5 per cent growth in overall GST […]

GST Collection Report in January 2024

GST Collection Crosses INR 1.70 Lakh Cr in January 2024, 2nd Highest Month

For January 2024 GST collection has achieved the 2nd highest monthly collection. As per the finance ministry, the Year-on-year rise for the first 10 months was 11.6% but the growth in January arrived at 10.4%. The gross GST revenue obtained is Rs 1,72,129 crore in January 2024 showing a notable 10.4% year-on-year rise compared to […]

Budget 2024 Government is Set to Exceed its GST Collection Target for the FY24

Govt to Surpass the GST Collection Target for FY24

The government seems to collect more GST in this fiscal year compared to the expectations with the continuous surge in the monthly mop-up recommending the Budget estimate for 2023-24 can be amended upwards if the Finance Minister Nirmala Sitharaman shows the Interim budget for 2024-25 dated 1st Feb 2024. In the initial 8 months of […]

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