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Constantly stepping up the ladder, GST collections of the states and union territories have shown a considerable hike from Rs. 2.91 Lakh Crore in FY 2017-18 to Rs. 5.81 Lakh Crore in FY 2018-19 said Union Finance Minister Nirmala Sitharaman in Parliament. Further to this, the Finance Minister in a written statement responded to the […]
Through goods and services tax (GST), Rs 30,321.67 crore was earned by the state government in the second quarter in this financial year (2018-2019). As compared to the first quarter, the revenue is Rs 5,632.42, or 15.66 percent less.
The government is totally in action against the possible tax evaders as recently the GST department in Mumbai has confiscated as many as 90 parcels of gold ornaments in a possible suspect of tax evasion supplies.
Compliance under GST, the One Nation One Tax, has been on an upward trend. This is cemented by the fact that composition-scheme dealers reporting average annual revenue of Rs 20 lakh increased by two times in the last quarter of FY 2017-18.
Inspired by the continuous increase in tax compliance ever since the launch of the goods and services tax regime, the GST Council has set the target for GST revenue for the ongoing financial year (FY19) at Rs 12 trillion.
It has been almost eight months since the Goods and Services Tax (GST) was launched in India and it is still going through changes. GST is far from a stable state.
Sushil Kumar Modi, one of the GST council member said that he supports the GST tax revenue to be stabilized before the ministerial panel decides to further tweak the GST rates or merge the slabs.
FM Nirmala Sitharaman dismissed the fact that increasing goods and services tax (GST) collections only provides an advantage before the Centre. She elaborated that the indirect tax system increases the revenue of the state by nearly Rs 9 trillion between 2018-19 and 2022-23 compared to the amounts that have been collected via the before subsumed […]
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 […]
