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The collection of GST (Goods and Services) was the highest in the month of April till now but this sudden increase in the GST revenue is far from the sight of becoming the permanent norm. In April 2019, the GST revenue increased by 10 per cent i.e. INR 1.13 trillion ($16 billion) as compared to […]
As per a message recently tweeted by the Ministry of Finance, the net direct tax (income tax, etc) amount collected for the financial year 2017-18 is over Rs 10.03 lakh crore, with a year on year growth of 18%, which is the highest in the past 7 years.
Vanaja N Sarna, Chairperson of Central Board of Excise and Customs (CBEC), said that the tax collected under the new tax regime is deviating from the expected figure and there are no targets in line to tweak the annual revenue goals.
According to the tax official, it is expected that the GST Council may reduce the taxes on items of common consumption if the government will earn good collection from the new tax regime over the coming few months.
Goods and Service Tax is well ahead of many other significant issues currently running through the ministry and Parliament business and one thing industry expert are sure about is that GST will bring along some benefits including tax collection growth on the sidelines of implementation.
It seems that an emerging sector named e-commerce is now in a dooms period as the latest GST provision covering for the fact that the TCS will be collected on the behalf of sellers and must be submitted to the government for the proper continuation of the companies in the current tax structure.
The first month of the fiscal year 2016-17, April has shown an increase of indirect tax collections by 41% to Rs. 64,394 crore. The major reason behind this hike is due to a sharp central excise gush. Last months’ records shot up the central excise collections by 70% to Rs. 28,252 as compared to Rs. […]
The gross rate of direct tax collection during April-January is hiked by 11.38 per cent at Rs 5,78,715 crore such as the tax has been hiked on Rs. 5,19,588 crore during the same period last year. Apart from this, the gross rate of Corporate tax is increased by 11.04 per cent on Rs. 3,28,413 crore […]
In January 2026, Goods and Services Tax (GST) collections of India have attained Rs 1,93,384 crore, exhibiting a robust year-on-year rise of 6.2 per cent. In January 2025, Rs 1,82,094 crore was the revenue. Cumulatively, from April to January FY26, gross GST receipts of Rs 18,43,423 crore, up 8.3 per cent compared to Rs 17,01,891 […]
