Monthly avg gross GST collection for FY22 & FY23 grew 30% and 22% Y-o-Y respectively
New Delhi: The monthly average gross GST collection for the FYs 2021-22 & 2022-23 have shown 30% and 22% year-on-year growth respectively.
GST Council decides to levy 28 pc tax on online gaming, casinos and horse-racing
New Delhi: The all-powerful GST Council chaired by Union Finance Minister Nirmala Sitharaman on Tuesday decided to impose 28% tax on online gaming, horse racing and casinos.
GST Council Meet: 28% GST to be levied on online gaming, horse racing, casinos
New Delhi: The Group of Ministers (GoM) attending the 50th GST Council Meeting on Tuesday reached a decision to impose a 28 percent Goods and Services Tax (GST) on the entire value of online gaming, horse racing, and casinos.
New Delhi: In an effort to combat fake and fraudulent registrations under the Goods and Services Tax (GST) system, the GST Council has proposed several amendments to the CGST Rules, 2017.
May GST collection grows 12% YoY to Rs 1,57,090 cr
New Delhi: The gross Goods & Services Tax (GST) revenue collected in the month of May stood at Rs 1,57,090 crore, the finance ministry said on Thursday.
Rs. 1,60,122 crore gross GST revenue collected for March 2023: Govt data
New Delhi: The gross GST revenue collected in the month of March 2023 is Rs. 1,60,122 crore of which CGST is Rs. 29,546 crore, SGST is Rs. 37,314 crore, IGST is Rs. 82,907 crore (including Rs. 42,503 crore collected on import of goods) and cess is Rs. 10,355 crore (including Rs. 960 crore collected on import of goods).
GST revenue grows 12 pc in Feb to Rs 1.49 lakh cr, cess collection at record high
New Delhi: Reflecting growth momentum in the economy, gross goods and services tax (GST) collection rose 12 per cent year-on-year to Rs 1,49,577 crore in February, 2023.
Centre will clear entire GST compensation dues: Nirmala Sitharaman
New Delhi/IBNS: The government will clear the GST compensation, including the entire pending balance of Rs 16,982 crore for June 2022 due as of Saturday, Finance Minister Nirmala Sitharaman said.
Mumbai/IBNS: Amid reports of a raid by the Himachal Pradesh State Excise Department on a unit of the Adani Group in Parwanoo late Wednesday, the firm said in a statement on Thursday that “the officials did not find any irregularities in the operations and dealings conducted by the company.”
Bengaluru/IBNS: The government can bolster working capital for e-commerce suppliers by lowering GST on input services like logistics and facilitating refunds of accumulated input tax credit in the upcoming Budget, according to Vidit Aatrey, Founder & CEO – Meesho.
MumbaiIBNS: A lower GST on appliances will help improve the penetration levels in India which remains low despite the positive impact on the quality of life and productivity, according to Kamal Nandi, Business Head and Executive Vice President of Godrej Appliances.
Gross GST collection in December up 15 pc YoY
New Delhi: The gross GST collection registered an increase of 15 per cent year-on-year (YoY) to Rs 1,49,507 crore in December 2022, government data released on Sunday showed.
GST Council decides to decriminalise certain offences, no tax rate increase
New Delhi: In a significant move to facilitate trade, the GST Council chaired by Finance Minister Nirmala Sitharaman on Saturday decided to decriminalise certain offences and doubled the threshold for launching prosecution to Rs 2 crore under GST.
Centre releases Rs. 17,000 crore of GST compensation to States/UTs
New Delhi: The Central Government released an amount of Rs. 17,000 crore to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June, 2022.
Sept GST collection rises to Rs 1.52 lakh cr
India's GST collection rose to Rs 1.52 lakh crore in Goods and Services Tax (GST) in September, the second-highest ever collection, according to the finance ministry said on November 1.