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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 […]
A person who is registered as a composition taxpayer cannot generate taxable invoices, collect GST from consumers, or claim ITC on purchases, according to the Central Board of Indirect Taxes and Customs (CBIC). The explanation came in response to a popular video showing a restaurant tricking patrons even though it was a composition taxpayer under […]
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, […]
In the month of September, the GST collection surged to Rs 1.47 lakh cr because of the combined effects of the surged cost of goods and services the higher demand for them, the raised tax compliance by the traders, and the festive season. The collection has been rose by 26% with respect to the identical […]
Domestic rating agency India ratings mentioned that the GST would not support the states to attain the objectives of increasing their tax revenue. The rating agency mentioned that the information would not mean any advantages to the states in the former 5 years since the GST incorporation. From June this year, the centre would halt […]
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 […]
In March 78.1 million have increased for the electronic permits for the shipment of the goods in and all over the states, the highest since November 2020 for which the information is available, showing that the goods and services tax (GST) revenue collections in April can achieve the all-time high seen in March. The official […]
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 […]
