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Chandigarh the union territory of India collects 83.10% of GST from April 2020 to July 2020. The city has exceeded the country for filing ITR in the lockdown phase and follows the union territories such as Gujarat with 81.44% and Punjab with 81.10% of GST collections. From the sources, it shows that the union territory […]
Due to COVID-19, the Punjab government has collected 38% Goods and Service Tax (GST) in its first four months as compared with the last year. According to the Taxation dept, the total collection of both the SGST and IGST Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings […]
Rs 87,422 crore GST revenue has been collected in July out of which SGST counts on Rs 21,418 crore, CGST is 16,147 crore, IGST is Rs 42,592 crore which includes Rs 20,324 crore that is negotiated on import of goods and Cess stood at Rs 7,265 crore which includes Rs 807 crore collected on goods […]
With the straight fall in the economy, states like Gujarat, Andhra Pradesh, Kerala and Tamil Nadu look out with the highest slump in the first quarter of the financial year compared to the previous financial year. Facts and figures of GST decline of these states show that the Indian economy seems to highly depend on […]
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 High Court of Madras has held that the time limit under GST Transactional Credit is not a directory but mandatory. This ruling is the opposite of that issued by Bombay HC, which the Supreme Court has ut under stay. Transactional credit is the credit collected from central excise and service tax (the older indirect […]
An officer of the Central Goods and Service Tax (CGST) of Kolkata zone, informed that the GST revenue Collection from assessments, which are controlled by Central Administrator, in West Bengal has fallen a bit in June 2020, as compared to the collection of the same period in the previous year. As per the previous year’s […]
According to the data provided by the GST (Goods and Services Tax) Network, Public Limited Companies amounts to only 0.6% of the total assessees registered under the GSTGet to know the complete GST registration procedure online on the Indian government GST portal official website. We have explained by the actual screenshot of every step Act […]
Goods and Services Tax (GST) completed three years on July 1, 2020, it was introduced to keep the taxation system simple and beneficial for taxpayers. It brings various changes and also the compliance rate has been improved. But still, there is a major issue Central as well as the State government are complaining about, and […]
