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From Rs 1.73 lakh crore the Goods and services tax (GST) revenue growth rate has surged to 6.5% in September, even after the sluggish growth in collections from domestic transactions along with the imports. Over the past 40 months, it has been the most sluggish GST growth. It is also 1% lower than the GST […]
Karnataka, the second-highest state in India for Goods and Services Tax (GST) collection, launched a new initiative aimed at improving GST collection by removing fraudulent taxpayers. According to Commercial Taxes Commissioner C. Shikha, a pilot study revealed that the new system successfully removed approximately 30 per cent of fraudulent taxpayers. Once the taxpayers were identified […]
The updated Goods and Services Tax (GST) numbers for Andhra Pradesh and Telangana express a lacklustre scenario for the Telugu states. Both states have shown lower growth rates compared to other southern states as per GST collections in Aug 2024. Andhra Pradesh, for the first time (excluding pandemic years), exhibited negative (-4%) growth, while Telangana […]
Good and services tax (GST) collections in August surged to 10% from the same period of the previous year to Rs 1,74,962 crore, according to the government’s official statement. The same rise was noted in all categories- Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess. In the previous year, the gross GST […]
The finance ministry reported the GST collection of May stood at Rs 1.73 lakh crore. It was less compared to Rs 2.10 lakh crore in April but is more than Rs 1.57 lakh crore in May, of the previous year. The May collection has corresponded with the consumption of goods and services claimed in April. […]
Concerning monthly GST collections, Uttar Pradesh has overtaken Tamil Nadu by recording a 19% rise in tax revenues in April. As per the information, by 19% the GST collections in Uttar Pradesh increased to Rs 12,290 crore in April 2024, becoming the 4th largest contributor after Maharashtra, Karnataka, and Gujarat. Tamil Nadu, which saw a […]
In March 2024 Goods and Service Tax collection rose 11.5 per cent on an annual basis to Rs 1.78 lakh crore, the second highest since the regime came into force in July 2017. In March the rise of GST collection can be attributed to the rise in GST collection from domestic transactions at 17.6 per […]
As per the experts the Gross Gross Goods and Services Tax (GST) revenue collected for February 2024 is Rs 1.68 lakh crore, standing a 12.5% rise compared to the identical month in 2023 which depicts the strength of the Indian economy and a powerful consumption level. “A robust 12.5 per cent growth in overall GST […]
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 […]
