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GST revenue in July of Tamil Nadu and Karnataka has outdone the other states in average GST collection. The states are doing well in their growth in GST collection in the first four months of this fiscal year. On the contrary, Telangana has shown a decline by a single digit in its year-on-year growth rate […]
As the ongoing sales over the e-commerce platforms ahead of Independence Day, the GST collection by Goa has been revealed. Goa’s GST collection grew 25%, over a period of three years, namely from 2019-20 to 2022-2023, as per the state government. The data was disclosed in the state legislative assembly, the GST revenue from e-commerce […]
In order to strengthen digital tax administration, the state taxation department will adopt the latest software and technological solutions so as to meet the problems of the environment where the businesses are functioning, says Punjab Finance and Taxation Minister Harpal Singh Cheema. Cheema, who presided over a review meeting with tax commissioner representatives visiting Telangana […]
India’s Gross Goods and Services Tax (GST) revenue collection for the month of July 2023 has surpassed a whopping ₹1,65,105 crore, representing an outstanding 11% year-on-year rise. This significant milestone marks the fifth time that GST collection has topped the 1.6 lakh crore threshold since its implementation. The country’s economic resiliency and the successful implementation […]
The Indian government introduced the new GST regime six years ago and a recent statistical report by GSTN provides a comprehensive analysis of its implementation. The following is a list of the contents which is merged with the report: The report shows the total number of returns filed on a monthly basis since July 2017, […]
The Karnataka Government vide Order No. FD 07 CSL 2023, Bengaluru, on July 18, 2023, incorporates the “Karasamadhana Scheme, 2023” to solve the pre-GST legacy tax disputes and expedite the collection of arrears without resorting to litigation. The Scheme waives 100% of penalty and interest arrears for persons who complete full payment of tax arrears […]
Bengal is among the 10 states which have not submitted the accountant general’s report to settle GST compensation, said the finance ministry officials. The other states they mentioned were Andhra Pradesh, Goa, Kerala, Mizoram, Nagaland, Punjab, Sikkim and Uttarakhand, and the Union Territory of Jammu and Kashmir. Finance Minister Nirmala Sitharaman, after the GST Council […]
Last week, the Government included the Goods and Services Tax Network (GSTN), an IT branch that manages the GST Portal, with several agencies including the Financial Unit (FIU), an authority under the Prevention of Money Laundering Act (PMLA), to share information with. According to the list, the FIU, a national agency for receiving, processing, and […]
For setting the GST appellate tribunals and hiring the members post-approval via GST council the central govt shall provide the guidelines, CBIC official stated. Shashank Priya member of the Central Board of Indirect Taxes and Customs (CBIC) (GST) mentioned that the department would be rendering for growing the assessee base and performing the data triangulation […]
