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Punjab Finance Minister Harpal Singh Cheema articulated that the Excise and Taxation department has conducted targeted Goods and Service Tax (GST) registration drives to widen the GST base, consequence in the addition of 46,338 new taxpayers in 2023-24 and approximately 33,000 new taxpayers up to December 2024. To educate taxpayers on filing procedures, and compliance […]
According to data from the Goods and Services Tax Network (GSTN) The number of e-way bills generated in January 2025 reached an all-time high of 118.15 million as notified by Informist. It shows a 5.5% rise from 112.02 million e-way bills generated in December 2024, which was the highest in the previous two years. E-Way […]
Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema said that the state had recorded an 11.87% increase in net Goods and Services Tax (GST) collection up to January in the existing fiscal year, exceeding the national average of 10 per cent. Punjab has reported a significant increase in its revenue, with excise taxes […]
Net goods and services tax (GST) of ₹1.71 trillion in January has been collected by the Centre and states, the highest in nine months. As per the official data, the collection is 10.9% higher from ₹1.54 trillion in the year-ago period. In April FY25, the net collection stood at ₹1.92 trillion. Last month the gross […]
With the Goods and Services Tax (GST) implementation on July 1, 2017, businesses in India have experienced a thrilling shift. The same amendment has substituted a complex system of various indirect taxes with a single tax structure (One Nation, One Tax), particularly impacting cost, compliance, and functional effectiveness. GST objectives were to improve the operation […]
As per the latest official data released dated January 1, 2025, Gross GST collections in December 2024 stood at Rs 1,76,857 crore, which is 7.3 per cent more as compared to the previous year. According to the data of government, the Central GST collection stood at Rs 32,836 crore, State GST at Rs 40,499 crore, […]
The state witnessed a 62.93% growth in net GST (goods and services tax) collection during November 2024 compared to the related period last year, Punjab Finance, planning, excise, and taxation minister Harpal Singh Cheema mentioned. Cheema in a statement cited that the total net GST collection up to November this fiscal year shows an increase […]
In November gross GST collections have risen 8.5 percent to over Rs 1.82 lakh crore on higher revenues from domestic transactions. Rs 34,141 crore, is the Central GST collection, State GST at Rs 43,047 crore, Integrated IGST at Rs 91,828 crore, and cess at Rs 13,253 crore, as per the government’s data. In November Rs […]
Through Goods and Services Tax (GST) the revenue collected by the union government on healthcare and life insurance services has moved up by 680 per cent to Rs 16,398 crore in 2023-24 from Rs 2,101 crore in 2019-20, Minister of State for Finance Pankaj Chaudhary said in a written reply in Lok Sabha. Marginally GST […]
