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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 […]
The 7-member GST rate rationalization panel is anticipated to see Uttar Pradesh Finance Minister Suresh Kumar Khanna as its convenor, according to an official source. There are expected replacements in the Group of Ministers (GoM), where West Bengal Finance Minister Chandrima Bhattacharya and Bihar Finance Minister Vijay Kumar Choudhary will take the positions formerly held […]
GST revenue growth in India has slowed to the 27-month low of 10.2% in September from nearly 10.8% in the past two months. While a 2.3% improvement in collections is there in the revenues of August to touch Rs 1,62,712 cr. In September 2022, revenues generated from domestic transactions, including service imports, exceeded tax collections […]
During an event on Saturday, Finance Minister Nirmala Sitharaman stated that the North Eastern states have experienced a significant increase in their GST revenue following the implementation of the Goods and Services Tax (GST) in 2017. Sitharaman, speaking at ‘Conclave 2023,’ pointed out the favourable impact of the Goods and Services Tax (GST) on the […]
According to SANJAY KUMAR AGARWAL, the Chairman of the Central Board of Indirect Taxes and Customs (CBIC), the buoyancy in goods and services tax (GST) collections will persist throughout the rest of the year. In a conversation with Shrimi Choudhary at his office in North Block, Agarwal credits the increased collections to improved compliance. Having […]
GST Revenues from domestic transactions (including import of services) are 14% higher Year-on-Year Rs 1,59,069 crore is the collected gross GST revenue for the month of August 2023 out of which CGST is Rs 28,328 crore, SGST is Rs 35,794 crore, IGST is Rs 83,251 crore (containing Rs 43,550 crore collected on goods import) and […]
In July, an e-way bill generation would have increased to 8.79 compared to the month of June which stands at 8.61, illustrating the rise in demand. On the GST collection, the same can have a positive influence that depicts a 3rd all-time high of Rs 1.65 lakh cr in the month of July. The GST […]
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 number of E-way bill generation decreased to 8.60 crores in June from 8.81 crores in May, but it was still more than it was in April. The GST collection in July, for which data is not yet available and will be released on August 1, may be slightly affected by this. E-way bill is […]
