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For January 2024 GST collection has achieved the 2nd highest monthly collection. As per the finance ministry, the Year-on-year rise for the first 10 months was 11.6% but the growth in January arrived at 10.4%. The gross GST revenue obtained is Rs 1,72,129 crore in January 2024 showing a notable 10.4% year-on-year rise compared to […]
The government seems to collect more GST in this fiscal year compared to the expectations with the continuous surge in the monthly mop-up recommending the Budget estimate for 2023-24 can be amended upwards if the Finance Minister Nirmala Sitharaman shows the Interim budget for 2024-25 dated 1st Feb 2024. In the initial 8 months of […]
The collection of Goods and Services Tax (GST) has been exhibiting an upward trajectory yearly since its implementation on July 1, 2017, and the average total monthly collection in the current financial year so far is Rs 1.66 lakh crore, as stated by Finance Minister Nirmala Sitharaman on Monday. In a written response to a […]
GST revenue in November month for Jammu and Kashmir has seen a big rise of 9% against the identical duration last year. As per the Union finance ministry’s data, J&K’s GST collection in November 2023 hit Rs 469 crore, notably up from Rs 430 crore in the same period last year. A senior official emphasized […]
A remarkable rise of 100.77% in State GST with a collection of Rs 2791.45 crore in November 2023 is registered by Odisha compared to the collection of Rs 1390.36 crore in the identical month last year, as per the official. The refined collection of State GST (OGST+IGST Settlement) up to November’23 is Rs 14,913.16 crore […]
According to the Ministry of Finance’s announcement on December 1, the government’s Goods and Services Tax (GST) collections surged by 15 per cent year-on-year in November, reaching Rs 1.68 lakh crore. The November GST collections, standing at Rs 1.68 lakh crore, depict a 2 per cent decrease compared to October’s GST collection of Rs 1.72 […]
The revenue shall continue to surge from the Goods and services tax (GST) for October 2023 the revenue collection at Rs 1,72,003 cr was the second highest subsequent to April 2023. Rs 1.66 lakh cr is the average gross monthly GST collection in the FY 2023-24 till October. When the average monthly collections exceed for […]
According to Central Board of Indirect Taxes and Customs (CBIC) official Sanjay Kumar Agarwal, the increase in Goods and Services Tax (GST) collections in October is due to economic activity rather than the issuance of notices by tax authorities. Advisories will be issued to businesses that are not practising generating GST e-invoices for their B2B […]
In October, the combined revenue from Goods and Services Tax (GST) collected by central and state governments reached ₹1.72 trillion, marking a notable 13% surge compared to the previous year. This figure represents the second-highest monthly collection since the implementation of the new tax system in 2017. The cumulative GST earnings for this year align […]
