Page 5 - Gst Collections

GST collection from centrally administered assessees rise 10% in Sept in WB

The GST collection in West Bengal from centrally administered assessees has increased by 10.16 per cent in September 2020 as compared to the same month last year, an official said

Tamil Nadu, 20 more states to borrow Rs 78,452 cr to meet revenue shortfall

The decision comes days after the GST Council failed to reach a consensus on the stalemate over the Centre's proposal of states borrowing against future GST collections to make up for the shortfall.

GST shortfall: Govt allows 20 states to borrow Rs 69,000 crore more

Dissenting states explore legal options, may move Supreme Court

GST Council to discuss compensation issue for third time in a row on Monday

The projected total compensation shortfall in current fiscal stands at Rs 2.35 trillion

Tamil Nadu may go with Option-1 for GST compensation, but seeks tweaks

State reiterates that Centre is bound to compensate the shortfall in GST collections and should find necessary funds for the purpose if there was a shortfall in cess collections

GST collections for Sept may cross Rs 95,000 cr for first time in FY21

The highest GST collections reported in the current fiscal year so far were Rs 90,917 crore in June

India Inc frets over supply mismatches due to launch of e-invoicing in Oct

Says frequent changes in format prevent companies from preparing for it, fears drop in GST collections if made mandatory

Gross GST collections in Aug down 1.11% month-on-month to Rs 86.449 cr

The gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.

Kejriwal writes to PM Modi to consider more viable options for GST

Delhi Chief Minister Arvind Kejriwal on Tuesday wrote to Prime Minister Narendra Modi, appealing to him to consider more legally viable options for providing Goods and Services Tax dues to the states

Tamil Nadu CM urges Centre to revisit options on GST compensation

He asked the government to ensure that the states get their full dues of the compensation in the current year itself

States seek 7 days on options as Centre says GST collection impacted

The coronavirus pandemic was an "act of God" that may even lead to contraction in the economy, says Finance Minister.

Covid-19 impact: July GST collections down 14.6% YoY to Rs 87,422 cr

GST collections in July were 4 per cent lower than June 2020 as well

July GST collection tumbles 14% to Rs 87,422 cr as Covid-19 hits economy

The July collections, which is 84 per cent of last year's numbers, is however, a recovery from the months of April and May

Govt notifies e-invoicing for companies with Rs 500-crore turnover

The move comes as the government is looking at ways to plug evasion amid dismal GST collections with the pandemic driving economy towards recession

Use of GST data in national accounts in limbo 3 years after tax roll-out

Difficult to gauge from state GST revenues collections whether or not economic activity is picking up, say experts

E-way bill generation showing green shoots of economic recovery: GSTN

Network says June 30, the last day of Unlock 1.0, ended with generation of 1.83 million E-way bills worth over Rs 54,500 crore, which is the highest since lockdown was enforced

Govt committed to reforms, make tax structure simple: FM on GST day

The finance minister asked taxmen to make life easier for MSMEs, particularly on GST front

Green shoots of recovery? GST mop-up improves in June, crosses Rs 90,000 cr

However, the rate of decline has come down considerably to just 9.02 per cent from 38.17 per cent in May and 71.63 per cent in April

Top headlines: June PMI data, GST collections, World Bank grant and more

Here are the top headlines of the day

June GST collections at Rs 90,917 cr, up from Rs 62,009 cr mopped up in May

The government had allowed a relaxed time schedule for filing of Goods and Services Tax (GST) returns