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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 […]
In August 2023, Punjab’s GST collection saw a significant 31% year-on-year increase, attributed to robust business growth and improved monitoring to plug revenue losses. The total GST revenue, including SGST and IGST, for that month reached ₹1,713.41 crore, up from ₹1,306.88 crore in the same month of the previous fiscal year 2022-23, as per the […]
Consumption, in counted with inflation and compliance, significantly boosted the GST revenue in key States from February to July of this year. Most of these States experienced substantial double-digit growth, with Maharashtra leading not only in accordance with collection but also in growth. Because GST functions on a consumption-based tax model, impacting prices of both […]
The finance ministry released a statement saying, the GST collection spiked by 13 per cent in March 2023 reaching the second-highest peak of Rs 1.60 lakh crore. GST collections touched and crossed the magical number of 1.5 lakh crores four times in the current financial year. According to the government, “the overall GST income received […]
There are Rs 1.5 lakh cr Gross GST revenue receipts totalled in the December month, a 15% year-on-year higher showing that the demand is higher following the before time as well as the initiatives to enhance the compliance has an effect. In the month of December, the gross GST revenues were Rs 1.49 lakh crore, […]
The government has shared the complete details about the GST revenue collection for the month of April 2022 which has been the highest in recent times with a better of INR 1.68 lakh crores at par. The gross GST revenue by the government for the month of April is said to be highest in the […]
GST collection crossed Rs 1.30 lakh cr for the fourth time and stands on the revenue with the worth of Rs 1,38,394 crore in Jan 2022. The revenue that stands out in January 2022 was 15% more as compared to the previous year of the same month. Also, it is 25% more than the GST […]
In the month of Dec quarter GST collection place with an extraordinary number concerned to the receipts from the tax given people of the country for center and states. Towards the Centre and states with an average monthly gross collection of Rs 1.3 trillion, the October-December quarter of 2021-22 (FY22) was the most promising since […]
Revenues towards the month of October 2021 are 24% on rising with respect to the GST revenues in the corresponding month last year and 36% over 2019-20 The gross GST revenue obtained in Oct 2021 is Rs 1,30,127 cr where CGST is Rs 23,861 crores, SGST is Rs 30,421 crores, IGST is Rs 67,361 crore […]
