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The GST revenue collection for the month of April 2023 stood the highest ever at Rs 1.87 lakh cr, Rs 19,495 crore which is exceeding the following highest collection of Rs. 1,67,540 lakh crore, in April 2022. In the month of April, the gross GST revenue collected 2023 is Rs 1,87,035 crore where CGST is […]
The Rajasthan government will hire 2,000 ‘Tax Mitra’ to ease the collection of Goods and Services Tax (GST) and Value Added Tax (VAT). 2,000 ‘Tax Mitra’ shall get hired by the government in order to ease the petitioner in the procedure of application of GST and VAT. The same shall build it simpler to deposit […]
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 […]
FM Nirmala Sitharaman mentioned that the trust relying on the taxation grounds made by the government would give an outcome in the rectification of the collections along with that it surged in furnishing the number of returns. On the 163rd income tax day, FM complimented the department for securing the highest revenue collection ever of […]
The central board of indirect taxes and customs CBIC is set to increase the scrutiny and departmental audits of the risky assessee to rectify the GST collections through the help of information and technology so as to provide the assurance that the decisions are transparent that the council opts. Towards the subject of union government […]
Good news for the Government and common men! This time there are indications of Positive economic sentiment in the market that shall ultimately result in the welfare of the people of the country. The direct tax These types of taxes are directly imposed and paid to the government of India. Example of Direct Tax is […]
Most probably, India’s Fiscal Exchequer from Goods and Services Tax (GST) collections is likely to recover from July onwards after witnessing a fall in May and June as per the official data related to ‘one-way bills’ for the first fortnight of the month of June. The data connotes the gradual comeback of economic activity that […]
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 […]
Revenue from direct tax collection, amidst fiscal stress provided relief to the government. It is moving nearby to the amended Budget target for 2020-21 and might receive a stimulus from the final installment of the payment of advance tax. Its deadline ended on Monday. The revenue from net direct tax declined to 5 percent year-on-year […]
