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The state of Karnataka has left behind Gujarat in the goods and services tax collections in the first 6 months of this financial year and stands in the 2nd place after Maharashtra among states. In the same period of the former year, Gujarat was the second in GST collections and Karnataka was third. Concerning the […]
The rise in the tax collection of goods and services is higher because of the higher inflation compared to the higher consumption mentioned by the India Ratings and Research. A private final consumption expenditure, with respect to the first quarter of 2019-20 there is a rise in the consumption which would have increased by 9.9% […]
Rs 1,43,612 crore gross GST revenue was collected in the month of August 2022. The Revenues for the month of August 2022 are 28% higher than the GST revenues in the same month in 2021. Monthly Goods and service tax revenues of more than Rs 1.4 lakh crore for six months in a row. The […]
5 years have gone by since the introduction of the GST regime was incorporated to address the former issues of double taxation, low tax base and collection, and simplicity of performing the business with the easier tax structure. People have seen the GST navigation fighting with the majority of the issues. From the time of […]
GST has been incorporated in India in 2017. This has changed the indirect tax systems of the country. Seeing its ups and downs the government and industry have acknowledged that its stability could be attained if both give and take come at equilibrium. It is one of the reasons that the government has provided the […]
FM Nirmala Sitharaman mentioned that the trust relying on the taxation grounds made by the government would give an outcome in the rectification of the collections along with that it surged in furnishing the number of returns. On the 163rd income tax day, FM complimented the department for securing the highest revenue collection ever of […]
The execution of the GST in 2017 directed to the uniform tax rates in the country, problems along with that lower tax rates, and simple compliance of the tax filings are being required to be handled to strengthen the platform. “Compliance framework for service providers is very complex requiring two returns to be filed every […]
In the month of May to 73.6 million from 75.2 million in April, the Generation of electronic permits required for the transportation of goods inside the states has been lowered. A GST e-way bill generation makes 78.2 million contributions to a high of Rs 1.68 trillion in GST receipts in April as the businesses cleared […]
Domestic rating agency India ratings mentioned that the GST would not support the states to attain the objectives of increasing their tax revenue. The rating agency mentioned that the information would not mean any advantages to the states in the former 5 years since the GST incorporation. From June this year, the centre would halt […]
