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The Centre’s indirect tax exchequer surged by more than 12 percent to Rs 10.71 trillion in 2020-21 (FY 21) in comparison to Rs 9.54 trillion in the previous year although Goods and Services Tax (GST) exchequer lessened by 8 percent. The Think Tank of the industry attributed the increase in indirect tax revenue to “shoot […]
From the continuous last 5 years, the tax collection of Uttar Pradesh has been increased by 25% and lies at Rs 2522 cr more in Dec 2020 with respect to Dec 2019. The finance minister mentioned that the revenue is on a steady increase. The set target for the month was Rs 14,536.47 crore, and […]
In Dec 2020, GST revenue has received gross Rs 1,15,174 crore where Rs 21,365 cr is from CGST, 27,804 cr from SGST, Rs 57,426 cr from IGST and other includes Rs 27,050 cr received from the import of goods and Rs 8,579 crore on cess along with Rs 971 cr received on the import of […]
While addressing a meeting of officials on Thursday, December 24, 2020, Uttar Pradesh Chief Minister Yogi Adityanath said the state (UP) having the largest population in India must also be the state making the highest revenue per year. Saying that he instructed his officials to up their efforts to raise the amount of revenue the […]
The business has started after the lockdown phase due to covid-19 and also after the closing on 5 August. It is concluded that the centre has collected 2nd highest GST from Jammu and Kashmir in the last month all over the country. It means that from the last few weeks in Jammu and Kashmir there […]
The collection of revenue from GST Cess has seen a 42% shortage in the financial year 2019-20. The GST council has decided to organize a meet to discuss the lending from the market as shortfalls are projected to continue. The finance ministry said that the final installment of the GST collection of the year, amounting […]
The government has recently revealed the GST late penalty collection revenues for the past 9 months which averages 200 crores for a month. As per the data of the Nine-month period of April to December 2019 the total GST late fees were INR 1898 crores. Apart from the late penalty, the government has also garnered […]
The Economic Advisory Council of the Fifteenth Finance Commission got heads together to resolve the issues concerned with GST stabilization and methods to lift the tax collection for the mobilization of increased resources. This was the fifth meeting of the Fifteenth Finance Commission and was held under the chairmanship of N K Singh. M Govinda […]
The government has to put in extra efforts to achieve its tax collection targets for FY 2019-20, stated by Lok Sabha. As per the data accumulated for the first seven months of the current fiscal year, the direct tax These types of taxes are directly imposed and paid to the government of India. Example of […]
