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It is expected that the goods and services tax can touch a skyhigh of 95000 crores of revenue collection this March 2018 when the return will be filed by April 20.
After the beginning of new tax regime- goods and services tax (GST), Gujarat government has said, the main reason of the revenue growth is stamp duty, electricity duty and vehicle tax as these taxes will help the Gujarat government to collect 18.5 percent more tax revenues in 2017-18.
The tweaks in GST tax rates affected the revenue collection of the government. The total calculated loss stands at Rs. 10,000 Crore comparing the last month collection. Finance Ministry told that the collection received till 27 November generated Rs. 83,346 Crore while the collection was of Rs. 95,131 Crore in October and Rs. 93,141 Crore in September.
GST collection in November 2021 has been topping the charts since the implementation of GST as there is 25% growth from the same month last year and 27% higher than 2019-20. The GST revenue (gross) collected in the month of Nov 2021 is INR 1,31,526 crore and dividing it has CGST at INR 23,978 crore, […]
Nationwide lockdown that was announced due to increasing cases of COVID-19 in India has adversely affected revenue collections of April. As per the data, GST collected for the month of April is estimated to reach only 40% of the aggregate collection recorded in March this year as the entire Indian economy has come to a […]
The Government is still modifying the architecture of GST collection to make it an ideal tax collection system. New reforms and amendments are frequently been introduced in the system so that the ultimatum can be achieved. GST collection for the month of September was yet another challenge faced by the governance which slipped down from […]
As the GST collection is not as per the government prospect, revenue secretary Hasmukh Adhia is working towards ways to enhance the tax influx.
It has been more than four months after GST rollout and now it seems that revenue loss chances have reduced. Data collected from GST Council shows that States are continuously enhancing GST collection by the remission of last due dates, a release of late payment charges for some time, and efforts of the government to attract towards compliance.
In a measure to stringent the Goods and Services Tax ( GST ) net, India’s Revenue Secretary, Sanjay Malhotra, is taking the helm in a measure complying with a rise in the tax collections. The same conduct is towards the rise in a record-breaking Rs 2.10 lakh crore collected through GST collection in April 2024, […]
