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Finally, a rise in Goods & Service Tax (GST) collection in the month of November to INR 1.03 lakh crore has brought good news for GST officials who have been constantly working for measures to improve GST collection. This rise by 6% seems to reverse the last two month’s fall in GST collection. Experts are […]
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 […]
The past governor of RBI C Rangarajan clarifies that due to covid-19 the slump in the rise of the economy occurs as a disaster which lies for a shorter duration. The opinion was raised during ‘SICCI-360’ raised by the Southern India Chamber of Commerce and Industry, said the chairman of Economic Advisory Council Rangarajan. “(Normally) […]
Indeed, even as the economy is getting itself together post-note boycott stun, the usage of goods and services tax(GST) is likewise liable to bring about genuine interruptions, Avendus Capital Alternate chief executive Andrew Holland said on Tuesday.
In the first quarter (Q1) of the 2025–26 financial year, the GST collection of the state of Andhra Pradesh is Rs 8,860 crore, reflecting a growth of 3.40%. Total tax collections in Q1 (including all sectors) arrived at Rs 13,361 crore, compared to Rs 13,096 crore in 2024–25, indicating a growth of 2.02%, showing a […]
The Central Goods and Services Tax (CGST) Act has introduced a new section 128A, to decrease the tax loads and proposes relief for the assessees towards tax obligations made between July 1, 2017, and March 31, 2020. This amendment permits people with tax obligations to settle their debts without facing extra interest or penalties, as […]
E-way bill generation has emerged from improved compliance and stringent enforcement by GST field formations, arriving at an all-time high of 10.54 crore in August 2024, according to Goods and Services Tax Network (GSTN) information. This is the sixth occasion since the e-way bill was introduced in 2018, and the fourth consecutive time this fiscal […]
In the fiscal year 2018-19, Andhra Pradesh recorded a total goods and services tax (GST) revenue of 25,331 crore, with an average monthly GST revenue of 2,100 crore. Presently, the state consistently achieves monthly GST collections ranging from 3,500 to 4,000 crore. April saw Andhra Pradesh achieving a remarkable milestone by raking in 4,329 crore […]
India’s Gross Goods and Services Tax (GST) revenue collection for the month of July 2023 has surpassed a whopping ₹1,65,105 crore, representing an outstanding 11% year-on-year rise. This significant milestone marks the fifth time that GST collection has topped the 1.6 lakh crore threshold since its implementation. The country’s economic resiliency and the successful implementation […]
