Gst Revenue

GST tweak on commercial rentals to bring higher revenue for govt: Experts

May lead to increased burden on tenants but would lead to tax parity, experts say

Centre's alleged 'injustice' in devolution of taxes to southern states

Complaints from the south of the Vindhyas gained intensity as the debate over the lower devolutions added to the perception of a "North-South divide"

Andhra Pradesh records Rs 7,653 cr GST revenue in Q1 of 2023-24: Officials

Andhra Pradesh recorded GST revenue of Rs 7,653 crore in the first quarter of financial year 2023-24, an increase of 24 per cent over the corresponding quarter in 2022-23, officials said. They apprised Chief Minister Y S Jagan Mohan Reddy regarding this income during a review meeting on revenue generating departments, noting that this GST revenue is excluding compensation. Similarly, income from the registration department rose to Rs 2,794 crore until July 15 compared to Rs 2,292 crore generated in the previous fiscal, according to a press release issued by the state government on Monday. Officials informed the Chief Minister that registration services have begun in the villages where resurvey of lands has been completed with 5,000 registrations already taking place in the village secretariats, achieving a revenue of Rs 8 crore. According to officials, the Andhra Pradesh Mineral Development Corporation (APMDC) is earning more revenue from Mangampeta baryte reserves and Suliyari coa

Monthly GST revenue at Rs 1.50 trn to be new normal next fiscal: CBIC chief

Monthly GST collection is expected to average around Rs 1.50 lakh crore and it will be the new normal' in FY24 in view of concerted efforts to check evasion and bring new businesses within the GST net, Central Board of Indirect Taxes and Customs (CBIC) chief Vivek Johri said on Thursday. In an interview to PTI, Johri said the GST and Customs revenue collection numbers as given in Budget 2023-24 are realistic based on nominal GDP growth and import trends, respectively and the indirect tax collection target set for next fiscal will be achieved. Johri said CBIC has drawn up a strategy to augment GST mop-up by way of stricter audit and scrutiny of tax returns, enforcement action against fake billing and input tax credit claims. We will focus on increasing the taxpayer base. Even though the growth in taxpayer base has been quite good, we have more than doubled the number of taxpayers from the time we started GST, we feel there are some sectors which have much more potential to increase t

GST officers to seek details of all invoices in case of ITC mismatch

The CBIC issued circular clarifying guidelines on recovery proceedings for the period 2017-18 and 2018-19

GST Council's fitment panel clarifies tax levy on SUVs, UPI transactions

Defers the classification of crypto assets under GST regime

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

Five years of GST: Some biz adapted, some perished, as others thrived

This ground report from Howrah talks about how the mid-sized and smaller players lost ground

Puducherry and Punjab have the highest GST revenue shortfall, shows data

The good news is the revenue shortfall of all the states have narrowed from FY21 level to FY22 level

Indian economy: Not just a twin but a triple-deficit problem looms

While the twin deficit problem of widening fiscal and current account deficits has been spoken about, a third problem of widening deficit in the states also stares the Indian economy in the face

GST collections may break all records soon: Revenue secretary Tarun Bajaj

Bajaj expects the collections to break the Rs 1.4-trillion record

Best of BS Opinion: Mobility is not enough, upsurge in GST revenue & more

Here are the top BS Opinion pieces of the day

GST revenue shortfall: Centre may have to borrow Rs 1.58 trillion

Shortfall estimated at Rs 2.7 trn; Rs 1.1 trn may be met via cess collection

How LDF's handling of three crises could shape the poll narrative in Kerala

The electorate is most likely to rate the govt on its response to the flood, its management of the economy after GST, and its recent response to Covid-19

States' GST revenue shortfall may be lower by up to Rs 40,000 cr this FY

The centre had set up a special window to borrow funds and pass on to the states for meeting the Rs 1.10 lakh crore GST revenue loss

GST borrowing to meet states shortfall must be reasonable: Finance Secy

So far, 21 states and 3 Union Territories have opted for the borrowing plan proposed by the Centre

Consider simple, legally viable ways to provide GST dues: Kejriwal to PM

He said the servicing and ultimate repayment of a loan through the states will also be similarly "cumbersome and circuitous"

LIVE: Students want NEET, JEE exams to be held, says Education Minister

'We have received mails from students and parents who are in favour of holding exams', said the minister. Stay tuned news LIVE updates

GST Council meet: States to push for borrowing by Centre on Thursday

Our worst fears are now coming true, Amit Mitra writes to Sitharaman

Green shoots visible, India will bounce back: NITI Aayog CEO Amitabh Kant

"I am hopeful that we will bounce back and bounce back with a vengeance," Kant said while speaking at 'FICCI FRAMES 2020'.