Gst Collections

Zomato gets Rs 803.4 cr tax demand from authorities, plans to file appeal

Food delivery aggregator Zomato on Thursday said the GST department in Thane has imposed a tax demand of Rs 803.4 crore, including interest and penalty. The demand order has been received in respect of non-payment of GST on delivery charges with interest and penalty thereon, Zomato said in a regulatory filing. The company said it will file an appeal before the appropriate authority as it believes it has a strong case. "... Company has received an order on 12 December 2024 ... for the period 29 October 2019 to 31 March 2022 passed by Joint Commissioner of CGST & Central Excise, Thane Commissionerate, Maharashtra, confirming demand of GST of Rs 401,70,14,706 with interest as applicable and penalty of Rs 401,70,14,706," Zomato stated. "We believe that we have a strong case on merits, which is backed by opinions from our external legal and tax advisors. The company will be filing an appeal against the order before the appropriate authority," it added.

Net GST mopup rises 11% to Rs 1.63 trillion in Nov amid drop in refunds

Gross collection grows 8.5% to Rs 1.8 trillion

GST mop-up sees six-month high in Oct with Rs 1.87 trillion, up 8.9% Y-o-Y

From April to October 2024, gross GST collections on a year-to-date basis reached Rs 12.74 trillion, marking a 9.4 per cent increase compared to Rs 11.64 trillion during the same period last year

GST collections rise 10% to Rs 1.75 trillion in August, shows govt data

Gross GST collections in August grew 10 per cent to about Rs 1.75 lakh crore, according to government data released on Sunday. Goods and Services Tax (GST) revenues in August last year were Rs 1.59 lakh crore, while in July the mop-up was Rs 1.82 lakh crore. In August 2024, domestic revenue grew 9.2 per cent to about Rs 1.25 lakh crore. Gross GST revenues from import of goods were up 12.1 per cent to Rs 49,976 crore. Refunds worth Rs 24,460 crore were issued during the month, registering an increase of 38 per cent over the year-ago period. After adjusting refunds, net GST revenue increase was 6.5 per cent at Rs 1.5 lakh crore during the month under review.

New milestone: GST collection rises 10.3% to third highest at Rs 1.82 trn

Gross GST collections rose 10.3 per cent in July to over Rs 1.82 lakh crore, according to official data released on Thursday. As per data released by the government, total refunds stood at Rs 16,283 crore in July. Net Goods and Services Tax (GST) collection after accounting for refunds was over Rs 1.66 lakh crore, a growth of 14.4 per cent. Gross revenues from domestic activities grew 8.9 per cent to Rs 1.34 lakh crore in July. The GST revenue from imports jumped 14.2 per cent to Rs 48,039 crore. GST revenues had hit a record high of Rs 2.10 lakh crore in April 2024.

GST amnesty scheme: A step forward or a missed opportunity?

While the GST amnesty scheme is a positive step towards improving taxpayer relations, its current form falls short of its potential

Mizoram records 52% growth in GST collection in April, says CM Lalduhoma

Mizoram Chief Minister Lalduhoma said the northeastern state has registered a 52 per cent growth in Goods and Services Tax (GST) in April this year. Quoting the data released by the Union Finance Ministry, Lalduhoma on Friday said that Mizoram collected Rs 108 crore in GST in April this year against Rs 71 crore collected in the same period the previous year. He attributed the growth in GST collection to massive efforts made by the state finance, planning and taxation department in revenue collection. "The reason behind the growth in GST collection is due to the massive efforts made by the finance, planning and taxation departments. People and business communities in particular are also aware of the importance of giving taxes to augment our revenue," the chief minister said. He claimed that the state's financial condition is moving towards stability due to the austerity measures being implemented by legislators and officials. In the Union Finance Ministry's data, Mizoram collected

GST collections hit new record at Rs 2.10 trillion in April 2024, up 12.4%

Driven by domestic transactions and imports, the gross goods and services tax (GST) collections for April 2024 saw a 12.4 per cent year-on-year growth

Punjab cabinet clears excise policy, aims at over Rs 10,000 cr collections

The Punjab cabinet gave its nod on Saturday to the excise policy for 2024-25, which is aimed at garnering revenue to the tune of more than Rs 10,000 crore from the sale of liquor. A decision to this effect was taken at a cabinet meeting chaired by Chief Minister Bhagwant Mann here. Addressing reporters here after the meeting, Finance Minister Harpal Singh Cheema said the cabinet has approved the new excise policy -- the third such policy of the Aam Aadmi Party (AAP) government. "For the first time, more than Rs 10,000 crore will be generated from it," Cheema said. He said during the previous Congress regime, the revenue from liquor sale was merely Rs 6,151 crore. The new excise policy envisages allotment of liquor vends through a draw of lots, the minister said, adding that instead of 172 groups, 232 groups have been formed this time. "Liquor vends will be allotted through a draw of lots," he said. In another decision, the cabinet also gave its approval for allowing colonisers t

GST mop-up rises over 12.5% to Rs 1.68 trn, car sales remain strong

The manufacturing sector, too, gathered momentum in February on the back of expansion in new export orders and easing of pricing pressures

GST mop-up grows 12.5% to over Rs 1.68 trillion in February: FinMin

The average monthly gross collection for the current fiscal stood at Rs 1.67 lakh crore, exceeding Rs 1.5 lakh crore in the last fiscal

India's gross GST collections in December jumps 10.3% to Rs 1.64 trillion

This marks the seventh month so far this financial year with collections exceeding Rs 1.6 trillion

LIVE: EC revises date of counting for Mizoram assembly elections to 4 Dec

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Odisha registers over 100% growth in GST collection at Rs 2,791 cr in Nov

Odisha registered a phenomenal growth rate of 100.77 per cent in State GST with a collection of Rs 2791.45 crore in November 2023 against a collection of Rs 1390.36 crore in the corresponding month last year, an official said. The progressive collection of State GST (OGST+IGST Settlement) up to the month of November'23 is Rs 14,913.16 crore against a collection of Rs 11,719.64 crore in November '22, registering a growth rate of 27.25 per cent, an official release said. The collection under all Acts monitored by the commissionerate of CT & GST, Odisha, including OGST/ IGST Settlement / VAT/ Entry Tax and Profession Tax during November 2023 is Rs 3,856.72 crore against a collection of Rs 2,308.92 crore during November 2022 with a growth rate of 67.04%, it said. The progressive collection under all Acts up to November 2023 is Rs 22,510.56 crore with a growth rate of 18.91% over corresponding collection till November 2022. With regard to Gross GST collection (CGST+IGST+SGST+Cess), ...

India's total tax receipts likely to exceed Budget Estimate in FY24

Monthly GST mop-up in FY25 could be Rs 1.7-1.8 trillion

GST collection in Oct rises 13% to Rs 1.72 trillion, second-highest ever

Average gross monthly GST collection in FY24 now stands at Rs 1.66 trillion, 11 per cent higher Y-o-Y, said the Ministry of Finance on Wednesday

Higher compliance has boosted monthly GST collections: CBIC chief

CBIC chief Sanjay Kumar Agarwal on Thursday said increased monthly GST collections are mainly on account of higher compliance, and the GST Council's decision to tighten return filing and registration process would help reduce fake ITC claims in evasion prone sectors, including iron and steel. Agarwal said the Central Board of Indirect Taxes and Customs (CBIC) has received suggestions regarding streamlining tax rates in evasion-prone sectors and all that is being discussed. The Goods and Services Tax (GST) collection was Rs 1.87 lakh crore in April and in the first four months of the current fiscal, the collections have averaged Rs 1.67 lakh crore. "The buoyancy of revenue is 1.43 of nominal GDP growth meaning thereby revenue collection is not entirely on account of growth in GDP, but a major contribution is made by increased compliance level," the CBIC chief said at the Ficci Cascade event here. Tax buoyancy explains the relationship between changes in government tax revenue growth

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GST mop-up crosses Rs 1.5 trillion for third month in a row; up 12% in May

The collections, tax experts said, reflects a continuation of the good economic performance across states witnessed since last year

Consulting and services sector urge Centre to revisit GST regime

The consulting and services sector has urged the Centre to re-look at the Goods and Services Tax (GST) collection regime.