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Gst Collection

GST Council May Consider Modification In Monthly Tax Payment Form For Better ITC Reporting

A meeting of the Goods and Services Tax (GST) Council, the highest decision making body in the GST matter, is likely to be held next month

22 May 2022

GST

GST Collection Hits All-Time High Of Rs 1.68 Lakh Crore In April

The gross GST collection in April 2022 is an all-time high and Rs 25,000 crore more than the previous highest collection of Rs 1.42 lakh crore recorded in March. 


GST.

No Proposal On GST Rate Hike Yet

Stating that views have not been sought from states on hiking rates on 143 items, sources said, there is also no proposal to shift more than half of the items to the highest tax GST slab of 28 per cent.


Govt Extends April GST Payment Deadline Till May 24

Earlier in the day, the CBIC had said that a technical glitch has been reported by Infosys in the generation of April GSTR-2B and auto-population of GSTR-3B on the portal

18 May 2022

Goods And Services Tax(GST).

Maharashtra Stares At Rs 30,000 Crore Revenue Loss If GST Compensation Not Extended

The Goods and Services Tax (GST) Act guarantees states bi-monthly compensation for any loss of revenue in the first five years of its implementation.


File Photo.

GST Council May Do Away With 5% Rate; Move Items To 3% And 8% Slabs

Currently, GST is a four-tier structure of 5, 12, 18 and 28 per cent. Besides, gold and gold jewellery attract a 3 per cent tax.

17 April 2022

At Rs 2898 Crore, Delhi Records Highest Ever GST Collection For April

The GST collection in April 2021-22 was Rs 2,325 crore, while it was a meagre Rs 320 crore in 2020-21.

13 May 2022

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GST Collection In March At All-Time High Of Rs 1.42 Lakh Crore

The revenues for of March are 15% higher than the GST revenues in the same month last year and 46% higher than the GST revenues in March 2020, finance ministry of finance said in a statement

01 April 2022

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31 March 2022
Miffed With Rising False GST Claims, Centre Mulls Roping In NPCI To Verify Traders’ Bank Accounts

Miffed With Rising False GST Claims, Centre Mulls Roping In NPCI To Verify Traders’ Bank Accounts

Tax authorities have busted different rackets exposing tax evasion through false claims to the tune of Rs 40,000 crore over the last one year


28 March 2022
Bureau of Police Research & Development Organises Seminar on Crypto; Bitcoin Rises

Bureau of Police Research & Development Organises Seminar on Crypto; Bitcoin Rises

Price of Bitcoin rose 6.40% in last 24 hours, Dogecoin up by 7.04% 


15 March 2022
Rs 53,600 Crore GST Compensation Yet To Be Released To States This Fiscal: FM

Rs 53,600 Crore GST Compensation Yet To Be Released To States This Fiscal: FM

So far this fiscal, Rs 96,576 crore has been released to the states on account of GST compensation, and an additional Rs 1.59 lakh crore has been given as...


14 March 2022
Many States Request GST Compensation Extension Beyond 5 Years, Says Nirmala Sitharaman

Many States Request GST Compensation Extension Beyond 5 Years, Says Nirmala Sitharaman

Under the GST law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of GST implementation from July 1,...


09 March 2022
GST Authorities Expand Probe Into Alleged Tax Evasion By BharatPe

GST Authorities Expand Probe Into Alleged Tax Evasion By BharatPe

GST authorities are now scrutinizing BharatPe books of the last four years to see if bogus invoices were issued for services as well.


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06 March 2022
GST Council May Consider Proposal To Raise Lowest Slab To 8%, Rationalise Tax Slabs

GST Council May Consider Proposal To Raise Lowest Slab To 8%, Rationalise Tax Slabs

A panel of state finance ministers is likely to submit its report by this month's end to the Council suggesting various steps to raise revenue, including...


01 March 2022
GST Collections Rise 18% To Rs 1.33 Lakh Crore In February

GST Collections Rise 18% To Rs 1.33 Lakh Crore In February

This is the fifth time that the GST collection has crossed the Rs 1.3 trillion mark


26 February 2022
Businesses With Over Rs 20 Cr Turnover To Mandatorily Generate E-invoice From April 1

Businesses With Over Rs 20 Cr Turnover To Mandatorily Generate E-invoice From April 1

From April 1 last year, companies with turnover of more than Rs 50 crore were generating B2B e-invoices


02 February 2022
Five-year Plan Gone Rogue: How GST Regime Has Created Cracks In Centre-State Relations

Five-year Plan Gone Rogue: How GST Regime Has Created Cracks In Centre-State Relations

Goods and services tax, once considered the prelude to a countrywide integrated market, seems to have gone astray. At least, this is what opposition states...


30 January 2022
Why GST Has Taken Five Long Years To Open Old Wounds Of Centre-State Relations

Why GST Has Taken Five Long Years To Open Old Wounds Of Centre-State Relations

Goods and Services Tax, once considered the prelude to a countrywide integrated market, seems to have gone astray. At least, this is what opposition states...


14 January 2022
Telcos seek refund of Rs 35,000 cr input tax credit, GST waiver on licence fee, SUC

Telcos seek refund of Rs 35,000 cr input tax credit, GST waiver on licence fee, SUC

At present, licence fees paid by the telecom operators is calculated as 8 per cent of revenue earned from telecom services, technically called adjusted gross...


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17 January 2022
Centre Would Not Want The Consequences Of Not Extending GST Compensation On Their Conscience: TN FM P Thiaga Rajan

Centre Would Not Want The Consequences Of Not Extending GST Compensation On Their Conscience: TN FM P Thiaga Rajan

The GST, which subsumed all service taxes except those on alcohol and petroleum, has not been able to generate as much revenue as had been anticipated during...


31 December 2021
GST Council Defers Implementation Of Rate Hike In Textiles To 12%

GST Council Defers Implementation Of Rate Hike In Textiles To 12%

The 46th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided to deliberate on the issue...


01 December 2021
GST Collections In November Surpass Rs 1.3 lakh Crore, Second Highest Ever

GST Collections In November Surpass Rs 1.3 lakh Crore, Second Highest Ever

GST revenue collected in November 2021 is Rs 1,31,526 crore of which CGST is Rs 23,978 crore, SGST is Rs 31,127 crore, IGST is Rs 66,815 crore and Cess is Rs...


29 November 2021
Nearly Rs 52,000 Crore Paid To States As GST Compensation: MoS Finance

Nearly Rs 52,000 Crore Paid To States As GST Compensation: MoS Finance

Minister of State for Finance added the economic impact due to the pandemic led to greater compensation requirements because of lowered GST Collection.


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