Government’s budget gap goal threatened by tax evasion as demand wanes
5 years, 4 months ago

Government’s budget gap goal threatened by tax evasion as demand wanes

Live Mint  

New Delhi: India’s slowing economy could easily be the fall guy for Prime Minister Narendra Modi government’s struggles with meeting tax targets. Poorer tax compliance adds to the government’s revenue collection woes amid a broader slowdown in the economy, where demand for everything from cookies to cars has taken a knock. The consumption tax was expected to bring in an anti-evasive tax regime, but there are numerous cases of bogus billings, tax evasion and fake invoicing, according to tax consultancy and auditing firm PricewaterhouseCoopers LLP. The government’s total tax revenue in the last financial year ended March fell short of target by ₹1.7 lakh crore, according to provisional numbers.

India Tax Tax Evasion Gst  regime  tax  wanes  goal  consumption  growth  indias  evasion  target  gst  according  demand  revenue  threatened  governments  gap  budget

History of this topic

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25
Trending News
1 day, 15 hours ago

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25

Live Mint  

New Delhi: Strong growth in tax collection from both personal and corporate income helped the Central government to collect ₹16.9 trillion in direct tax revenue so far this financial year after adjusting for tax refunds, official data showed on Monday. The net direct tax collection growth of 15.9% so far this year exceeds the 12.8% growth rate that finance minister …

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’
5 days, 13 hours ago

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’

The Hindu  

Ahead of the Union Budget, the Congress on Thursday alleged that the goods and services tax had become a means to “loot” people and demanded that the Centre puts an end to “tax terrorism”. In a post on X, Congress president Mallikarjun Kharge said that the GST could stand for the “Gabbar Singh Tax” or “Grahasthi Satyanash Tax ” or …

Gabbar Sitharaman Tax: Congress’ fresh jab at FM, says new circulars are issued 90 months after GST rollout
5 days, 19 hours ago

Gabbar Sitharaman Tax: Congress’ fresh jab at FM, says new circulars are issued 90 months after GST rollout

Live Mint  

Congress leader Pawan Khera on Thursday took a swipe at Union Finance Minister Nirmala Sitharaman over Goods and Service Tax and said that even 90 months after the implementation of GST, new circulars are being issued. Speaking to ANI in Rajasthan, Khera referred to GST as Gabbar Sitharaman Tax, and said it has affected everyone. The tax that should have …

Why the budget must bring income tax relief this time around
1 week ago

Why the budget must bring income tax relief this time around

New Indian Express  

It's often argued that tax cuts can stimulate the economy. If so, given India's weakening urban consumption, the question is whether the government should consider cutting personal income taxes in the forthcoming Union budget or reduce rates that affect everyone like the GST. Just about 10%-15% of the population pay individual income taxes and so a reduction in income tax …

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy
1 week, 4 days ago

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy

The Hindu  

The Congress on Friday claimed that the last quarter of the current fiscal year witnessed the “second-slowest pace” of collection of Goods and Services Tax in the past three years and urged the government to focus on the complexities of the economy instead of imposing tax on popcorn. Net GST growth slumps to 3.3% in December, as revenues slow and …

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%
1 week, 6 days ago

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%

The Hindu  

India’s gross Goods and Services Tax receipts increased at the second-slowest pace in 43 months in December, while growth in net GST collections, after adjusting for refunds, slumped to 3.3%, the weakest in financial year 2024-25. Editorial: ​Selective indecision | on the GST Council’s 55th meeting, decisions December’s gross GST inflows, for transactions undertaken in November, were a tad under …

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December
Top News
1 week, 6 days ago

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December

Deccan Chronicle  

New Delhi: Goods and Services Tax collections rose by 7.3% to ₹1.77 lakh crore in December, maintaining figures above the ₹1.7 lakh crore mark for the tenth consecutive month. While higher than the ₹1.65 lakh crore collected in December 2023, it fell short of the record ₹2.1 lakh crore achieved in April 2024, according to government data released on Wednesday. …

Centre, states collect gross GST revenue of ₹1.76 trillion in December
Trending News
1 week, 6 days ago

Centre, states collect gross GST revenue of ₹1.76 trillion in December

Live Mint  

The Union and state governments collected gross Goods and Services Tax revenue of ₹1.76 trillion in December, the lowest in in three months, but showing an improvement of 7.3% from a year ago, official data showed. After adjusting for tax refunds, GST revenue collection stood at ₹1.54 trillion, showing annual growth of 3.3%. After refunds, GST revenue receipts in the …

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December
3 weeks, 6 days ago

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December

Live Mint  

The Centre’s direct tax collection from corporations and individuals after adjusting for tax refunds has reached ₹15.8 trillion so far this year, jumping 16.45% over the previous year and outpacing the budget estimate. While non-corporate tax collection from individuals and other entities like partnerships and local authorities, after adjusting for refunds, recorded a 22% jump so far this year to …

Mint Quick Edit: Heed the words of India’s top revenue official
1 month, 1 week ago

Mint Quick Edit: Heed the words of India’s top revenue official

Live Mint  

With social and development spending rising steadily, government finances have been under pressure. This seems to have put overzealous revenue authorities on a constant lookout for how to squeeze more money out of tax assessees. On Wednesday, revenue secretary Sanjay Malhotra told tax officials to be careful, lest they end up hurting industry and thus the economy. While efforts have …

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials
1 month, 1 week ago

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials

Live Mint  

New Delhi: Cautioning tax officials to not kill the goose that lays the golden egg in the process of tax collection, revenue secretary Sanjay Malhotra told a gathering of officials that they need to be careful not to hurt the economy’s interests in the hunt for revenue. “This is a very positive development for the industry—it signals the government's intention …

UP collects ₹1.35 lakh crore tax revenue in 8 months
1 month, 1 week ago

UP collects ₹1.35 lakh crore tax revenue in 8 months

Hindustan Times  

[email protected] For representation only Uttar Pradesh government on Wednesday claimed it has collected a tax revenue of ₹135058.47 crore in the first eight months of 2024-2025. It collected ₹7579.74 crore from transport, ₹2226.81 crore from energy and ₹279.54 crore from land revenue “Our revenue collections are going up and the state’s financial situation is witnessing marked improvement consistently. The state …

GST mop-up fourth highest ever but red flags in laggard states
1 month, 1 week 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 …

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
1 month, 2 weeks ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint  

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

Relief to middle class? Inflation offsets hike in tax exemption limit
1 month, 4 weeks ago

Relief to middle class? Inflation offsets hike in tax exemption limit

New Indian Express  

NEW DELHI: The government recently claimed that Income tax burden on the common man has come down in the last 10 years, thanks to the Narendra Modi-led government’s various measures. It claimed that taxpayers in the Rs 2.5-7 lakh tax bracket who paid on an average Rs 25,000 in FY14 are now paying zero tax. Fast forward to FY 2024-25, …

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
Trending News
2 months ago

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate

Live Mint  

Data from the Income Tax Department reveals a shift in India’s tax landscape over the past decade, with the share of tax collected from individuals earning less than ₹10 lakh dropping from over 10% to 6.22%. Tax collection from this group has tripled, rising from ₹2.52 lakh crore in 2014 to ₹9.62 lakh crore in 2024, data showed. “Tax liability …

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs
2 months, 1 week 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 …

GST collections hit a 40-month low in September 2024
3 months, 1 week 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 evasion worth ₹2.02 lakh crore detected in 2023-24; over 40% from online-gaming
4 months ago

GST evasion worth ₹2.02 lakh crore detected in 2023-24; over 40% from online-gaming

The Hindu  

Goods and Services Tax sleuths detected taxevasion worth almost ₹82,000 crore by 78 real money online gaming firms in 2023-24, but that translated into a voluntary recovery of just ₹53 crore. The online gaming industry is reckoned to have evaded the highest GST levies last year, even as overall detection of indirect tax evasion surged to almost ₹2.02 lakh crore, …

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report
5 months, 1 week ago

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report

Hindustan Times  

Tax defaults in India have skyrocketed by 1000% in the last ten years and litigation associated with it has also consequently risen, according to a Moneycontrol report, which cited data compiled from various Union Budgets. Tax defaults in India skyrocketed by 1000% in the last ten years and associated litigation has also consequently risen How much tax default did India …

Punjab sees 15% jump in tax revenue despite sluggish GST
5 months, 3 weeks 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 …

Move ahead: On GST and reform
6 months, 3 weeks 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
7 months, 1 week 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 …

10 years of Modi government: Tax reforms, challenges
8 months ago

10 years of Modi government: Tax reforms, challenges

New Indian Express  

NEW DELHI: In the last 10 years of Modi government rule, India has undergone marked tax reforms focused on streamlining the tax framework, enhancing compliance, and fostering transparency. Key reforms common to Customs, GST, income tax, and corporate tax include digitisation for e-filing and digital payments, real-time data sharing to detect tax frauds, faceless assessment and appeals, dispute resolution schemes …

GST has helped people with a pro-poor approach, says Nirmala Sitharaman
8 months, 1 week 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
8 months, 1 week 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 …

A reform window: On the GST trajectory
9 months, 1 week 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 …

Finance Minister bats for swift clarity on GST classification issues
10 months, 1 week ago

Finance Minister bats for swift clarity on GST classification issues

The Hindu  

Finance Minister Nirmala Sitharaman on Monday stressed the urgent need to bring clarity on classification-related issues under the Goods and Services Tax regime, urging tax officials to look into the issue “at the earliest through appropriate channels”. Addressing the first-ever ‘National Conference of Enforcement Chiefs of State and the Central GST Formations’ that will be held twice a year going …

Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data
10 months, 2 weeks ago

Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data

Hindustan Times  

The government's fiscal deficit at ₹11 lakh crore at January end touched 63.6 per cent of the revised annual target, according to the official data released on Thursday. The government's total receipts stood at ₹ 22.52 lakh crore as of January 2024 In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 67.8 …

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget
10 months, 4 weeks 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
11 months, 1 week 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, …

The big tax growth the finance minister spoke of isn’t reflecting in the interim budget’s estimates
11 months, 1 week ago

The big tax growth the finance minister spoke of isn’t reflecting in the interim budget’s estimates

Live Mint  

In her interim budget for FY25, finance minister Nirmala Sitharaman took credit for the surge seen in direct tax collections over the previous 10 years. Direct tax collections net of refunds touched ₹14.7 lakh crore by 10 January this year, growing 19.4% over the same period of FY23. After that, direct tax collections shot up 40.1% in FY21, benefiting from …

Robust revenues: On direct tax collection target and fiscal consolidation
1 year ago

Robust revenues: On direct tax collection target and fiscal consolidation

The Hindu  

With little under a quarter left in the financial year 2023-24, the government has met nearly 81% of its direct tax collection target. Economists believe the exchequer’s net direct tax kitty will end up surpassing the Budget estimate of ₹17.2 lakh crore by about a lakh crore if not more, with the full-year growth settling at around 18%. Within direct …

Growth signals: On GST revenues
1 year 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 …

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

India’s fiscal deficit may breach 5.9% of GDP target: India Ratings and Research
1 year ago

India’s fiscal deficit may breach 5.9% of GDP target: India Ratings and Research

The Hindu  

India’s fiscal deficit may breach the 5.9% of GDP target for this year and could hit 6%, even though tax collections have been buoyant and may offset a wide shortfall in disinvestment outcomes, due to the likelihood of revenue spending exceeding the Budget Estimate by about ₹2 lakh crore, India Ratings and Research said on December 26. The Centre has …

Consistent increase in 2023-24 revenue collections: UP govt
1 year, 1 month ago

Consistent increase in 2023-24 revenue collections: UP govt

Hindustan Times  

LUCKNOW The UP government on Tuesday claimed a consistent increase in its revenue receipts with a collection of ₹2,580.78 crore more in November this year. We have maintained transparency in the release of data about tax and non-tax collections,” said minister for revenue Suresh Khanna while releasing the details about the state government’s total revenue collections. The state government’s non-tax …

Over 70 GST notices issued to online gaming firms, ₹1.1 tn due
1 year, 1 month ago

Over 70 GST notices issued to online gaming firms, ₹1.1 tn due

Live Mint  

New Delhi: Online gaming companies have been issued 71 show cause notices relating to Goods and Services Tax in FY23 and in the current financial year up to October, minister of state for finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday. However, since these notices are pending adjudication, the respective GST demand is not yet determined under the provisions …

GST collections hit ₹1.68 trillion in November
1 year, 1 month ago

GST collections hit ₹1.68 trillion in November

Live Mint  

Goods and Services Tax collections touched ₹1.68 trillion in November as festive demand lifted sales, but the figure was lower than October’s receipts of ₹1.72 trillion. A finance ministry statement said that November GST revenue receipts showed a 15% improvement from the year-ago period, the fastest pace of growth the indirect tax has registered since its inception in 2017. The …

Modi govt’s big business push? India considers easing arrest threshold for GST tax evasion
1 year, 1 month ago

Modi govt’s big business push? India considers easing arrest threshold for GST tax evasion

Firstpost  

The proposal seeks to increase the threshold from the current ₹2 crore to ₹3 crore as part of an initiative to decriminalize specific aspects of tax evasion. This initiative is part of a broader effort to decriminalize specific aspects of tax evasion, aiming to alleviate undue pressure on businesses and create a more favourable environment for conducting operations. However, the …

GST regime has ‘very efficiently’ brought tax rates down: FM
1 year, 2 months ago

GST regime has ‘very efficiently’ brought tax rates down: FM

The Hindu  

Finance Minister Nirmala Sitharaman said on Tuesday that the Goods and Services Tax regime has “very efficiently” brought tax rates down and consumers now pay lower levies than they did in the earlier indirect tax regime. Ms. Sitharaman also urged businesses staying out of the GST system to come within its fold or risk losing prospective customers, adding that such …

GST Evasion: Government expecting ₹50,000 crore mop-up on recovery of dues
1 year, 2 months ago

GST Evasion: Government expecting ₹50,000 crore mop-up on recovery of dues

Live Mint  

The Indian government is expected to recover ₹50,000 crore in evaded Goods and Services Tax in FY24, Business Standard reported. A substantial portion of this recovery is expected to come from incorrect claims of input tax credit by insurance companies, GST payments on expatriate services under the reverse charge mechanism, illicit clearances of tobacco products, and property transactions, the report …

File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary
1 year, 5 months ago

File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary

India TV News  

As the finance ministry is not contemplating an extension of the July 31 deadline, Revenue Secretary Sanjay Malhotra has urged the income taxpayers to file their returns at the earliest. About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for assessment year 2022-23. As per the Budget 2023-24, the …

Rs 15,000 crore tax evasion detected, over 4,900 fake GST registrations cancelled
1 year, 6 months ago

Rs 15,000 crore tax evasion detected, over 4,900 fake GST registrations cancelled

Op India  

On the 5th of July, a senior tax official stated that the GST authorities have cancelled over 4,900 fake GST registrations, since the 16th of May, 2023. He stated that in the drive against fake registration, till July 4, over 69,600 GST Identification Numbers have been selected for physical verification by field tax officers. Speaking at the ASSOCHAM’s National Conclave …

An incomplete reform: on six years of the Goods and Services Tax
1 year, 6 months ago

An incomplete reform: on six years of the Goods and Services Tax

The Hindu  

India’s tryst with the Goods and Services Tax, launched at a special midnight Parliament session with unusual fanfare, completed six years this month. Marking the occasion, Finance Minister Nirmala Sitharaman emphasised that the GST has moved the country towards a unified market from a situation where each State mandated different indirect tax structures and procedures, while inter-State borders were marked …

GST has been a gamechanger for India’s economy
1 year, 6 months ago

GST has been a gamechanger for India’s economy

Live Mint  

Ahead of the launch of the goods and services tax on 1 July 2017, this newspaper on 6 June 2017 had published my piece titled ‘Indian GST: Unparalleled Tax Reform’ in which I had highlighted the unique features of India's GST regime such as the Dual GST structure; Integrated GST mechanism; invoice matching; single digital interface and the establishment of …

GST collections rise 11.5% to cross ₹1.57 lakh crore in May 2023
1 year, 7 months ago

GST collections rise 11.5% to cross ₹1.57 lakh crore in May 2023

The Hindu  

India’s gross Goods & Services Tax collections grew 11.5% in May — the slowest uptick in six months — to cross ₹1.57 lakh crore, with revenues from domestic transactions rising 11% and imports yielding 12% more taxes than a year ago. Sequentially, May’s revenues, for transactions undertaken in April, the first month of the new financial year, were the lowest …

Year-end compliances lift GST revenues to record ₹1.87 lakh crore in April
1 year, 8 months ago

Year-end compliances lift GST revenues to record ₹1.87 lakh crore in April

The Hindu  

India’s gross GST revenues hit a record high in April at ₹1,87,035 crore, 12% higher than the same month last year which had clocked the previous highest tax tally of ₹1.67 lakh crore. GST Compensation Cess collections also hit a fresh record of ₹12,025 crore in April, which included about ₹900 crore collected from imports of goods. Central GST collections …

Tax transitions: The Hindu Editorial on GST revenue trends
1 year, 10 months ago

Tax transitions: The Hindu Editorial on GST revenue trends

The Hindu  

The nearly ₹1.5 lakh crore of gross Goods and Services Tax collections in February are notable from several aspects. First, they mark the 12th successive month that GST revenues have stayed over ₹1.4 lakh crore, and the fourth highest single month kitty since the launch of the GST regime. The average monthly GST collections in the first 11 months of …

Steady GST hum
1 year, 10 months ago

Steady GST hum

Live Mint  

Goods and services tax revenue figures for February released by the government on Wednesday show that collections climbed 12% from a year earlier to almost ₹1.5 trillion. February’s collections mark 12 months in a row of GST revenue exceeding ₹1.4 trillion. As the economy’s formalization rises and government efforts to draw small businesses into the tax net bear fruit, GST …

Discover Related