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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.
In January 2026, Goods and Services Tax (GST) collections of India have attained Rs 1,93,384 crore, exhibiting a robust year-on-year rise of 6.2 per cent. In January 2025, Rs 1,82,094 crore was the revenue. Cumulatively, from April to January FY26, gross GST receipts of Rs 18,43,423 crore, up 8.3 per cent compared to Rs 17,01,891 […]
As per the Government of India, the recent GST rationalisation shall deliver growth to cooperatives engaged in dairy, food processing, agriculture, and rural enterprises. The Union Minister of Cooperation Amit Shah, in a written reply to the Rajya Sabha, has shared the information. Dairy Sector to Gain from Lower GST The GST rate on milk […]
