GST revenue growth slowed to 10.2% in September
1 year, 2 months ago

GST revenue growth slowed to 10.2% in September

The Hindu  

Growth in India’s gross Goods and Services Tax revenues slowed to a 27-month low of 10.2% in September, from around 10.8% in the previous two months. While the Finance Ministry did not specify the extent of decline in its statement, back-of-the-envelope calculations show that GST revenues from goods imports dropped 0.11% from last September. Slowest growth in 27 months The last time that GST revenues grew at a slower pace was in June 2021, when collections rose a mere 2% amid the second wave of the COVID-19 pandemic. Last month’s GST revenues, based on transactions carried out in August, included Central GST collections of ₹29,818 crore, State GST of ₹37,657 crore, and Integrated GST of ₹83,623 crore, which included ₹41,145 crore collected on the import of goods. Settling pending dues A part of the rise in September’s revenues could have been spurred by businesses settling pending tax dues since the start of the GST regime in 2017-18, tax experts reckoned.

Growth Tax States Revenue Crore Gst Cgst Revenues Gst Revenues  gst  goods  sgst  transactions  102  states  growth  crore  slowed  revenues  tax  revenue  collections

History of this topic

U.P.’s GST revenue grows 15%, surpassing national average
1 week ago

U.P.’s GST revenue grows 15%, surpassing national average

Hindustan Times  

Uttar Pradesh has recorded impressive consumer spending trends, with a 15% growth in Goods and Services Tax revenue until November, surpassing the national average of 13%. U.P.’s GST revenue for the period reached ₹56,687 crore, up from ₹49,282 crore during the same period last year. are spending at levels comparable to, or in some cases higher than, residents of more …

Centre Shares Rs 6.42 Lakh Cr GST with States Till November
2 weeks ago

Centre Shares Rs 6.42 Lakh Cr GST with States Till November

Deccan Chronicle  

Chennai: The Centre has paid a total of Rs 6.42 lakh crore to states till November as their share of GST collections along with the compensation cess. The gross GST collections till November stood at Rs 14.56 lakh crore. At the end of November, the gross GST collected by the Centre stood at Rs 14.56 lakh crore. Of the gross …

GST rate changes: Consult the public
2 weeks, 3 days ago

GST rate changes: Consult the public

New Indian Express  

The “recommendations” symbolise a misalignment, the fault lines in the understanding of the state of the economy. While the GST Council has ceased publishing data on collections, news reports show that November saw gross GST collections, at Rs 1.82 lakh crore, growing at 8.5 percent. It is a moot point if the process of GST Council GoMs allows for representations, …

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema
Trending News
3 weeks, 1 day ago

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema

Hindustan Times  

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said on Sunday that the state witnessed 62.93% growth in net GST collection during November 2024 compared to the corresponding period last year. Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said the total net collection from VAT, CST, GST, PSDT, and excise in November this year is …

GST mop-up fourth highest ever but red flags in laggard states
3 weeks, 1 day ago

GST mop-up fourth highest ever but red flags in laggard states

Hindustan Times  

The Goods and Services Tax revenue in November grossed over ₹1.82 lakh crore, the fourth highest monthly collection ever that also crossed the ₹1.80 lakh crore mark for the fifth time in 88 months since July 2017, despite major states such as Andhra Pradesh, Rajasthan and Chhattisgarh showing a dip in growth. The goods and services tax revenue in November …

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
3 weeks, 1 day ago

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more

Live Mint  

From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories. GST collection for November rises by 8.5% to ₹ 1.82 lakh crore The goods and service tax collection for the month of November rose 8.5 per cent …

GST mopup surges 8.5 per cent to 1.82 lakh crore in November
3 weeks, 1 day ago

GST mopup surges 8.5 per cent to 1.82 lakh crore in November

Deccan Chronicle  

New Delhi: India's gross goods and service tax or GST mopup surged by 8.5 per cent to over Rs 1.82 lakh crore in November on year-on-year basis as compared to Rs 1.68 lakh crore in the same month last year. As per the data released by the finance ministry, the total gross GST revenue grew 8.5 per cent to over …

GST collection reports 8.5 per cent growth to Rs 1.82 lakh cr in November
Trending News
3 weeks, 2 days ago

GST collection reports 8.5 per cent growth to Rs 1.82 lakh cr in November

India TV News  

The gross Goods and Services Tax collections rose 8.5 per cent to over Rs 1.82 lakh crore in November on higher revenues from domestic transactions. The statement released by the government said the total gross Goods and Services Tax revenue grew 8.5 per cent to over Rs 1.82 lakh crore in November as compared to Rs 1.68 lakh crore in …

Andhra achieves 10.44% growth in GSDP in 2023-24, shows economic survey report
1 month ago

Andhra achieves 10.44% growth in GSDP in 2023-24, shows economic survey report

Hindustan Times  

Andhra Pradesh has registered a growth rate of 10.44% in the gross state domestic product during the financial year 2023-24 but it was 3% less than the growth rate recorded in the previous financial year 2022-23, a report of the socio-economic survey tabled in the state assembly on Monday, said. The growth rate in the GSDP during 2023-24 was 13.5% …

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely
1 month ago

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely

ABP News  

The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for December 21 in Jaisalmer, Rajasthan. The council, comprising state finance ministers, is expected to deliberate on major tax policy changes, including a decision on exempting or reducing GST rates on health and life insurance policies. Following discussions last month, the GoM has proposed …

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs
1 month, 2 weeks ago

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs

The Hindu  

GST revenue trends have been volatile this year, with growth in gross and net receipts exceeding that of the previous year's highest points, but falling short of the previous year's overall growth. While the year started with a strong surge in April, subsequent months have shown a decline in growth. The latest GST receipts indicate a positive trend, but it …

Karnataka's Economic Growth Soars, Outperforming National Average
2 months ago

Karnataka's Economic Growth Soars, Outperforming National Average

Hindustan Times  

Karnataka registers a 10.2% GSDP growth in 2023-24, significantly surpassing the national average of 8.2 per cent. Despite challenges like drought and global IT slowdown, the state's agriculture sector faced negative growth, while its dependence on the IT and hardware sectors made it vulnerable to global economic downturns.

GST collections hit a 40-month low in September 2024
2 months, 3 weeks ago

GST collections hit a 40-month low in September 2024

The Hindu  

Growth in India’s Gross Goods and Services Tax collections slumped to a 40-month low of 6.5% in September, with revenues at ₹1,73,240 crore, about 1% lower than the tally in August. Gross domestic revenues were up 5.9% in September, with the uptick moderating 4.5% higher after adjusting for refunds, provisional numbers from the Central Board of Indirect Taxes and Customs …

GST rate rationalisation: GoM discusses pruning 12% slab, next meeting on October 20
2 months, 3 weeks ago

GST rate rationalisation: GoM discusses pruning 12% slab, next meeting on October 20

The Hindu  

The Group of Ministers on GST rate rationalisation has discussed tax rate tweaks on over 100 items, including lowering taxes on certain goods from 12% to 5%, to give relief to the common man, West Bengal Finance Minister Chandrima Bhattacharya said on Thursday, September 26, 2024. She said items used by the common man should attract lower tax rates and …

GST Council to deliberate on taxation of insurance premium, report on online gaming
3 months, 2 weeks ago

GST Council to deliberate on taxation of insurance premium, report on online gaming

New Indian Express  

NEW DELHI: The GST Council on Monday is expected to deliberate on a host of issues, including taxation of insurance premium, GoM's suggestions on rate rationalisation, and a status report on online gaming, sources said. Sources said the fitment committee, comprising Centre and state tax officials, will present a report on GST levied on life, health and reinsurance premiums and …

U.P govt’s revenue earnings up by ₹1725.83 crore in August
3 months, 2 weeks ago

U.P govt’s revenue earnings up by ₹1725.83 crore in August

Hindustan Times  

The Uttar Pradesh government on Thursday claimed an increase of ₹1725.83 crore in tax and non-tax revenue earnings in August 2024 with the total collections going up to ₹15,969.65 crore vis-a-vis ₹14,243,82 crore earned in the same month in 2023. The state government’s tax collections in the first five months of 2024-2025 are 76 per cent of the target going …

Net GST receipts’ growth slipped to 6.5% in August
3 months, 3 weeks ago

Net GST receipts’ growth slipped to 6.5% in August

The Hindu  

Growth in India’s Gross Goods and Services Tax collections slowed marginally to 10% in August from 10.3% in July, with revenues of nearly ₹1.75 lakh crore. Net receipts growth was 6.3% in June In August, gross revenues from domestic transactions were up 9.2%, improving from an 8.9% rise in July, while receipts from imports rose 12.1%, slightly slower than the …

Telangana reported huge jump in tax revenue, state tells CAG
4 months, 2 weeks ago

Telangana reported huge jump in tax revenue, state tells CAG

Deccan Chronicle  

Hyderabad: The Telangana state government reported a significant increase in its tax revenue for the first quarter of the fiscal year 2024-25, with collections rising by over Rs 3,600 crore compared to the same period last year. The state's tax revenue reached Rs 34,609 crore in the April-June quarter, according to the income and expenditure report submitted to the Comptroller …

GST mop-up in July up 10.3% to Rs1.82 lakh crore
4 months, 3 weeks ago

GST mop-up in July up 10.3% to Rs1.82 lakh crore

Deccan Chronicle  

New Delhi: India’s gross goods and services tax collection in July recorded a 10.3 per cent rise to over Rs 1.82 lakh crore. Total refunds stood at Rs 16,283 crore in July and net GST collection was Rs 1.66 lakh crore, showing a growth of 14.4 per cent. “The gross revenues from domestic activities grew 8.9 per cent to Rs …

GST receipts’ growth rebounds to 10.3%; July kitty third-highest ever
4 months, 3 weeks ago

GST receipts’ growth rebounds to 10.3%; July kitty third-highest ever

The Hindu  

India’s Gross Goods and Services Tax collections hit their third-highest monthly level in July to cross ₹1.82 lakh crore, with revenue growth recovering to 10.3% from a three-year low of 7.6% in June. Gross revenue from domestic transactions grew 8.9% in July, easing from 9.4% recorded in June, but growth in taxes collected on imports bounced 14.2% from just 2.4% …

GST collections surge by 10.3 per cent in July, cross Rs 1.82 lakh crore mark
4 months, 3 weeks ago

GST collections surge by 10.3 per cent in July, cross Rs 1.82 lakh crore mark

India TV News  

Goods and Services Tax collections for July reached Rs 1,82,075 crore, marking a 10.3% year-on-year increase. 2024 year-to-date: Total GST collections have been Rs 7.38 lakh crore, up 10.2% from Rs 6.70 lakh crore in the same period of 2023. 2023–24 Fiscal year: Gross GST collections totalled Rs 20.18 lakh crore, an 11.7% increase from the previous fiscal year. The …

Punjab sees 15% jump in tax revenue despite sluggish GST
5 months ago

Punjab sees 15% jump in tax revenue despite sluggish GST

Hindustan Times  

Chandigarh : The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25. The Punjab government registered an increase of 15% year-on-year in its tax revenue in the first quarter of the financial year 2024-25 The impressive increase came on the back of improved state excise, sales tax and …

GST relief may hit state finances
5 months ago

GST relief may hit state finances

Deccan Chronicle  

Hyderabad: The GST Council’s decision to provide relief to taxpayers in Telangana could have serious consequences for state finances. The most hard-hitting decision taken at the 53rd meeting of the Council was the relief extended to taxpayers for the financial years 2017-18 to 2019-20 waving interest and penalty on tax demands under Section 73. This step will benefit tax payers …

Move ahead: On GST and reform
6 months ago

Move ahead: On GST and reform

The Hindu  

Revenues from the Goods and Services Tax, which completes seven years at the end of this month, hit a record high of ₹2.1 lakh crore in April that typically sees higher inflows due to a year-end compliance rush. Although gross revenues from domestic transactions grew 15.3%, accelerating from a 13.4% rise a month earlier, revenues from goods imports dipped for …

GST collection rises 10% to ₹1.73 lakh crore in May
6 months, 3 weeks ago

GST collection rises 10% to ₹1.73 lakh crore in May

The Hindu  

The country's gross GST collections rose to ₹1.73 lakh crore in May, growing 10% year on year driven by increased revenues from domestic transactions, the finance ministry said on Saturday. After accounting for refunds, the net GST revenue for May 2024 stood at ₹1.44 lakh crore, reflecting a growth of 6.9% compared to the same period last year. The gross …

GST collection records 10 per cent year-on-year growth to Rs 1.73 lakh crore in May
6 months, 3 weeks ago

GST collection records 10 per cent year-on-year growth to Rs 1.73 lakh crore in May

India TV News  

In a latest development, India’s gross GST collections rose to Rs 1.73 lakh crore in May, registering a 10 per cent year-on-year growth driven by augmented revenues from domestic transactions, the finance ministry stated on Saturday. The 10 per cent year-on-year growth in May collection is driven by a strong increase in revenues from domestic transactions amid slowing of imports, …

GST has helped people with a pro-poor approach, says Nirmala Sitharaman
7 months, 2 weeks ago

GST has helped people with a pro-poor approach, says Nirmala Sitharaman

The Hindu  

The Goods and Services Tax regime has benefitted people through a pro-poor approach, Union Finance Minister Nirmala Sitharaman asserted on May 6, while underlining that the recent landmark of GST collections crossing ₹2 lakh crore was driven by heightened economic activity. Noting that the idea of GST was first mooted under the Atal Behari Vajpayee-led NDA government, Ms. Sitharaman said …

Broaden GST net, cut cesses to reduce tax burden
7 months, 3 weeks ago

Broaden GST net, cut cesses to reduce tax burden

New Indian Express  

Goods and services tax collection crossed the landmark of Rs 2.1 lakh crore for the first time in April. Truth be told, April has always seen higher collections, thanks in part to year-end adjustments in tax assessments. But what sets apart the latest haul is that a part of the 12.4 percent increase over last year was led by a …

GST collection in Odisha hits record high in April
7 months, 3 weeks ago

GST collection in Odisha hits record high in April

New Indian Express  

BHUBANESWAR: Gross GST collection in Odisha hit a record high in April with an overall tax revenue of Rs 5,902.25 crore registering a growth rate of 17.21 per cent against the national average of 13 per cent. The gross GST collection including CGST, SGST, IGST and Cess, was Rs 5,035.74 crore in Odisha in April last year. Odisha has also …

In fresh high, gross GST revenues shoot past ₹2.1 lakh crore in April
7 months, 3 weeks ago

In fresh high, gross GST revenues shoot past ₹2.1 lakh crore in April

The Hindu  

Year-end compliances lifted India’s gross Goods and Services Tax revenues past a record ₹2.1 lakh crore in April, reflecting a 12.4% growth over the previous highest tally of ₹1.87 lakh crore in the same month last year. Finance Minister Nirmala Sitharaman attributed the ₹2 lakh crore-plus GST revenues in April to “the strong momentum in the economy and efficient tax …

Business News Highlights: GST Collections Soar To Record Rs 2.10 Lakh Crore In April
7 months, 3 weeks ago

Business News Highlights: GST Collections Soar To Record Rs 2.10 Lakh Crore In April

ABP News  

Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. Furthermore, according to data released by the Ministry of Commerce and Industry on Tuesday, India's eight core sectors recorded a growth rate of 5.2 per cent in March. Although this growth rate was slower than the 7.1 per cent recorded in February 2024, it surpassed the 4.2 per …

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair
8 months, 2 weeks ago

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair

The Hindu  

A key architect of India’s tax reforms and the chairman of the Thirteenth Finance Commission Vijay Kelkar has called upon the country’s next government to undertake urgent reforms in the “unnecessarily complex” Goods and Services Tax regime, such as switching to a single tax rate of 12% and sharing revenues with local governments and municipal corporations. Stating that a single …

A reform window: On the GST trajectory
8 months, 3 weeks ago

A reform window: On the GST trajectory

The Hindu  

The financial year 2023-24 appears to have ended on a high on the revenue front. Net direct tax collections rose 19.9% by mid-March to hit 97% of revised Budget targets, while the Goods and Services Tax has yielded a robust ₹20.18 lakh crore. Gross GST revenues in March, for transactions undertaken in February, crossed ₹1.78 lakh crore, the second highest …

Telangana’s GST Revenue Sees 18% Growth in 2024
8 months, 4 weeks ago

Telangana’s GST Revenue Sees 18% Growth in 2024

Deccan Chronicle  

Hyderabad: Collections in the commercial tax department have increased in the state owing to a slew of steps taken by the department. In this milieu, among the bigger states Telangana’s GST revenue grew from Rs.4,424 crore in 2023 to Rs.5,211 crore in 2024. The 18 per cent increase is the second best among southern states after Karnataka’s 19 per cent. …

Maharashtra, Karnataka, UP lead in GST cess collections
9 months, 1 week ago

Maharashtra, Karnataka, UP lead in GST cess collections

Live Mint  

New Delhi: Maharashtra, Karnataka, Uttar Pradesh, Odisha and Tamil Nadu are leading in collecting Goods and Services Tax cess levied mainly on sale of cars, helping the Centre pay off the market loans taken to give liquidity to states during the pandemic, showed data available from the GST Council for this fiscal up to January 2024. Largest state economy Maharashtra …

Karnataka’s GST collection increased owing to guarantee schemes: Siddaramaiah
9 months, 1 week ago

Karnataka’s GST collection increased owing to guarantee schemes: Siddaramaiah

The Hindu  

Chief Minister Siddaramaiah has claimed that the collection of Goods and Services Tax in Karnataka has increased on account of the implementation of guarantee schemes of the Congress government in the State. Addressing a gathering of beneficiaries of various guarantee schemes of the State government in Chamarajanagar near here on Tuesday, Mr. Siddaramaiah said the GST collection in Karnataka had …

U.P. govt collected ₹2,813 cr more revenue in Feb this year
9 months, 2 weeks ago

U.P. govt collected ₹2,813 cr more revenue in Feb this year

Hindustan Times  

The Uttar Pradesh government on Monday claimed an increase of ₹2,813.88 crore in its revenue collections in February 2024. Minister for finance Suresh Khanna, briefing media persons, said the state government collected a revenue of ₹17,742.67 crore, 77.5 percent of the target of ₹22,888.79 crore in February 2024. government collected a tax revenue of ₹ 1,73,381.51 crore till February 29. …

Chandigarh records 12% rise in GST collection in February
9 months, 3 weeks ago

Chandigarh records 12% rise in GST collection in February

Hindustan Times  

The Goods and Services Tax collection in February witnessed an increase of 12% against the gross levy collected during the corresponding period in 2023. The collection for December 2023 increased by 29%, which stood at ₹ 281 crore, ₹ 63 crore more than ₹ 218 crore collected during the same month in 2022. According to the Union ministry of finance, …

GST collections up 12.54% in February 2024
9 months, 3 weeks ago

GST collections up 12.54% in February 2024

The Hindu  

India’s gross revenues from the Goods and Services Tax grew at a three-month high pace of 12.54% in February to cross ₹1.68 lakh crore, marking the fourth-highest monthly collections from the tax. February’s GST revenue growth reflected the third highest uptick in 2023-24 and lifted the total collections so far this year to ₹18.4 lakh crore, 11.7% above the same …

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget
10 months, 1 week ago

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget

Deccan Chronicle  

Bengaluru: Chief Minister Siddaramaiah pointed out that Central Government led by Bharatiya Janata Party had meted out three injustices to States including Karnataka such as “unscientific” implementation of Goods and Services Tax, increase in Cesses and Surcharges and change in allocation of formula in tax devolution and grants-in-aid, adversely affected the financial strength of the State. Siddaramaiah accused the previous …

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary
10 months, 2 weeks ago

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary

The Hindu  

February 06, 2024 08:19 pm | Updated 09:05 pm IST - NEW DELHI India’s tax-to-GDP ratio is expected to hit a record high of 11.7% of GDP in 2024-25, led by an uptick in the more ‘equitable’ direct taxes, and the government will continue to simplify and rationalise the tax regime to reduce disputes, litigation and intrusive means of enforcement, …

Sluggish pace of growth in revenue receipts in Telangana continue at the end of Q3
10 months, 3 weeks ago

Sluggish pace of growth in revenue receipts in Telangana continue at the end of Q3

The Hindu  

The sluggish pace of growth in the revenue receipts in Telanganacontinued at the end of the third quarter of the current financial year with overallrevenue receipts pegged at ₹1.25 lakh crore, 57% of the ₹2.16 lakh crore projected in the budget estimates. Tax revenue has shown some improvement since the past few months reaching ₹99,693 crore, 65.37 % at the …

GST collections surge to second highest ever at 1.72 lakh crore in January
10 months, 3 weeks ago

GST collections surge to second highest ever at 1.72 lakh crore in January

India TV News  

Goods and Services Tax collections in January surged by 10.40 per cent to exceed Rs 1.72 lakh crore, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms. This marks the second-highest monthly collection ever, with three months in the current fiscal year recording Rs 1.70 lakh crore or more in collections. The finance ministry …

January records 2nd highest monthly GST revenue at ₹1.72 L cr
10 months, 3 weeks ago

January records 2nd highest monthly GST revenue at ₹1.72 L cr

Hindustan Times  

Goods and Services Tax revenues surpassed ₹1.72 lakh crore in January, the second highest monthly collection and the third over the ₹1.70 lakh crore threshold, data released on Wednesday showed, with experts attributing the high number to the resilience of the Indian economy and better tax compliance. On average this financial year, the monthly GST collection has been above ₹ …

GST revenues rev up to second-highest ever in Jan.
10 months, 3 weeks ago

GST revenues rev up to second-highest ever in Jan.

The Hindu  

India’s Goods and Services Tax regime delivered its second-highest monthly revenues of ₹1,72,129 crore in January, as per data collected by Wednesday evening and shared by the Finance Ministry. In April 2023, GST collections had crossed a record ₹1.87 lakh crore aided by year-end compliances, while October had clocked a tad over ₹1.72 lakh crore which was the second-highest monthly …

GST revenues reveal a dissonance in consumption growth across States
11 months, 2 weeks ago

GST revenues reveal a dissonance in consumption growth across States

The Hindu  

Amid worries about weak consumer spending trends, Goods and Services Tax revenues for the first nine months of 2023-24 reveal a dissonance in consumption growth across States, with Gujarat, West Bengal and Andhra Pradesh among a dozen-odd States that are seeing weaker growth. Among the 20 largest States that account for nearly 97% of State GST collections, two large States, …

Growth signals: On GST revenues
11 months, 3 weeks ago

Growth signals: On GST revenues

The Hindu  

The Goods and Services Tax has yielded close to ₹1.65 lakh crore in gross revenues in the last month of 2023. The first nine months of 2023-24 have clocked a 12% rise in GST collections, with the monthly intake averaging ₹1.66 lakh crore, from ₹1.49 lakh crore in 2022-23. The Budget had factored in monthly GST revenues of around ₹1.59 …

GST revenue growth dips to a 3-month low in December
11 months, 3 weeks ago

GST revenue growth dips to a 3-month low in December

The Hindu  

India’s Goods and Services Tax revenues crossed ₹1,64,800 crore in December 2023, with year-on-year growth slowing to a three-month low of 10.3% from a 15.1% rise in the previous month. December’s GST kitty, for transactions undertaken in November 2023, is about 1.8% lower than the nearly ₹1.68 lakh crore collected a month earlier, which marked the third highest monthly receipts …

Gross GST collection rises by 12% to Rs 14.97 lakh crore in during April-December 2023 period
11 months, 3 weeks ago

Gross GST collection rises by 12% to Rs 14.97 lakh crore in during April-December 2023 period

India TV News  

Gross GST collection: The gross GST collection has jumped up by 12 per cent to Rs 14.97 lakh crore in the April-December 2023 period, the Finance Ministry informed on Monday. "During the April-December 2023 period, gross GST collection witnessed a robust 12 per cent y-o-y growth, reaching Rs 14.97 lakh crore, as against Rs 13.40 lakh crore collected in the …

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government
11 months, 3 weeks ago

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government

The Hindu  

Personal income and corporate tax collections are likely to rise to more than ₹19 lakh crore in 10 years of Prime Minister Narendra Modi-led Government, providing more leeway to come out with people-friendly tax measures. Driven by the increasing income of individuals, net direct tax collections after adjusting for refunds increased from ₹6.38 lakh crore in FY 2013-14 to ₹16.61 …

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