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The officials are pressurizing the government to rework the Goods and Services Tax (GST) slabs and increase the rates of GST. The officials have also been suggesting that the government should correct the inverted duty structure on fertilizers, footwear, and garments as there are signs of high economic activity in the sectors. The suggestions were […]
The centre described the current abnormal situation as an “act of God” and also indicated that there was no insurance for the growth of 14% in the GST Collections during this situation. In July 2017 when the GST was introduced, the centre provided insurance to States against any “revenue loss”, if the growth of revenue […]
Due to the Lockdown and COVID-19 Pandemic state governments are having a tough time to collect revenue, and by observing that the Central government had earlier released GST Compensation of INR 1,15,096 crore for the period of April to November 2019 and today additional INR 36,400 crore GST Compensation has been also released. Today, GST […]
According to some data revealed recently, The CGST collection for April month was reported Rs 5,934 crore which is 87% less as compared to the same month last year’s collection (Rs 46,848). The Official data is concerned with the month of March in which only a few days are under lockdown. Some analysts also expressed […]
Read 40th GST council meeting, via video conferencing to phase out all the pending issues of before and after corona lockdown and certain industry aspects that have come to a heating point due to the pandemic calamities across the country. Check out the latest GST council updates as per direct official sources here at blog.saginfotech.com […]
COVID-19 Panadamic causing a bad effect on the collection of the states, due to it, their GST collection requirements is expected to reach Rs. 4.1 trillion in this Financial year, which is almost equal to 2.1 percent of the GDP of our country The biggest tax reform i.e. Goods and Services Tax is now a […]
As per the recently released Government reports and statements a 13% drop has been reported in Gross Direct Tax These types of taxes are directly imposed and paid to the government of India. Example of Direct Tax is Income Tax, TDS, Securities Transaction Tax, Fringe Benefit Tax, etc collection in this year up to May […]
Our country was already facing an economic slowdown and the Covid-19 pandemic makes the situation worsen. Due to the continuous shortfall of Good and Service Tax (GST) caused by various reasons, the central government is now is questing ways to compensate states. The States were guaranteed to be paid for any loss of revenue in […]
As you know already that the Release of GST Collection data for April month has been postponed. And now in this matter, Finance Secretary Ajay Bhushan Pandey on 13th May stated that the clear picture of the GST collection of April month is possible only on 30th June 2020. 30th June is also the last […]
