Page 4 - Gst Collections

Enhanced GST revenue collections should now be 'new normal': FM

Commending taxmen for enforcement measures in dealing with GST fraud, Finance Minister Nirmala Sitharaman said the enhanced revenue collection in the recent months should now be the 'new normal'

Direct tax mop-up zooms 85% in spite of economic disruption due to Covid-19

Trend in contrast to moderation in GST collections last month

Amid curbs, GST collection in May drops to Rs 1.02 trn vs Rs 1.4 trn in Apr

However, when compared with the same month last year, the revenues collected in May are 65 per cent higher

ICRA pegs GST compensation of Rs 2.65 trillion for states for FY22

Chief Economist Aditi Nayar said that after a sharp fiscal deterioration in FY21, the Budget estimates for FY22 of 24 state governments had indicated a decline in their aggregate revenue deficit

Structural shift

Higher GST collection reflects better compliance

States likely to ask for five-year extension of GST compensation

Tax sops on Covid supplies to also be on agenda at Council meet

The GST puzzle

The sharp rise in GST collection in March could be a false indicator if further rate reforms are delayed

Top headlines: GST collections at record high; chaos mars polling in Bengal

Business Standard brings you top news of the evening

March GST collections at nearly Rs 1.24 trillion, an all-time high

The government said that the GST revenues were above Rs 1 trillion for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic

From GST collection to car sales, macro data signals steady recovery

GST mop-up rises 7% to Rs 1.13 trn in Feb; Manufacturing PMI eases slightly to 57.5

GST collections cross Rs 1 trillion for fifth consecutive month in Feb

The government attributed the robust mop-up to closer monitoring against fake billing, deep data analytics using data from multiple sources

GST collections surpass Rs 1.1 trn-mark for 3rd straight month in Feb

The revenues for the month of February 2021 are 7 per cent higher than the GST revenues in the same month last year

Expect high GST collections to continue in Feb, say FinMin sources

Sources say the GST authorities have been using deep data analytics, integrated data-sharing to unearth input tax credit utilisation frauds via fake invoicing and bogus firms

Finmin pins hope on vaccine drive for robust recovery in services sector

GDP contraction of 7.7% is much smaller than expected, DEA says

At record Rs 1.19 trn, GST collections give FM confidence ahead of Budget

Since the collections were till 6 pm on January 31, some more money is expected to come into the government coffers for the month

Higher compliance, pent-up demand pushed GST mop-up to new high, shows data

Collection hit a record in December 2020, crossing Rs 1.15 trillion, in a sign that faster recovery could really be on its way

GST mop up rose to highest ever level at over Rs 1.15 trillion in December

Mop up was 10.57% higher month-on-month, and 11.65% higher year-on-year despite an elevated base on both yardsticks

GST collections up Rs 1 trn for second month straight, aided by festivals

November collections were 1.42 per cent higher than the same month of the previous year

Experts wary about sustainability of Rs one trillion GST collections

They believe the October mop-up may have resulted from pent-up demand, are sceptical about the post festive season scenario

GST collections cross Rs 1 trillion in October for first time in 8 months

GST collections in October stood at over Rs 1.05 trillion, crossing for the first time Rs 1 trillion mark since February this year, the finance ministry said