Wed, Jan 01, 2025
During the financial year 2023-24, the total gross GST collection was recorded at Rs 20.18 lakh crore, with an 11.7 per cent increase compared to the previous fiscal year.
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Sat, Dec 21, 2024
Finance Minister Nirmala Sitharaman on Saturday said that states did not agree on bringing aviation turbine fuel under the ambit of Goods and Services Tax.
Sat, Nov 02, 2024
Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions.
Sun, Jul 01, 2018
One year of GST: 12 months have already passed since the goods and services tax (GST) was rolled out by PM Narendra Modi.
One year of GST: Much to the disappointment of the common man, prices of many daily use products jumped after GST was implemented. FMCG was one of the major sector that witnessed structural change on account of GST.
One year of GST: This regime replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime.
One year of GST: The goods and services tax (GST) has wrought major changes in India, but it needs to also note the revenue generated from this regime fell short of government’s FY18 target as well.
One year of GST: Prime Minister Narendra Modi today hailed the Goods and Services Tax (GST) as it has changed the Indian economy and impacted the public in many positive ways. Here is what PM Modi said:
One year of GST: This regime replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime. Fittingly, it boasted a tagline - ‘One Nation, One Tax’.
One year of GST: The government will soon start a helpline number where consumers can complain against traders who do not issue bill on purchase of any article, Union Minister Piyush Goyal has said
One year of GST: The larger goal of broadening the tax base has certainly hit the right chords with the Economic Survey 2017-18 showing that there were 9.8 million new GST registrants.
One year of GST: Indian government has structured GST for efficient tax collection, reduction in corruption, easy inter-state movement of goods etc.
One year of GST: GST was launched for efficient tax collection, reduction in corruption, easy inter-state movement of goods, etc.
One year of GST: Among many fundamental features of GST, one is the seamless flow of input credit across the chain (from the manufacture of goods till it is consumed) and across the country.
They were suppose to compile to this regime which had only five tax slabs 0%, 5%, 12%, 18% and highest up to 28%.
One year of GST: The current government has exempted somewhat 8 products from GST regime including fuel products.
Sat, Jun 30, 2018
Almost one year has passed since the launch of Goods and Services Tax (GST). This regime is one the successful and eye catching stories of Prime Minister Narendra Modi government.
Concept of GST is not new to the world as nearly 160 countries as on 2016, have opted this mode for bringing individually tax rates into a single tax.
Fri, Jun 29, 2018
One year of GST: 12 months have passed and it is time to sit back and check exactly how the Goods and Services Tax (GST) has helped balloon the government's tax collection. Take a reality check here:
One year of GST is being celebrated with fanfare. Rightly so. It has the potential to transform India's fortune and keep it going as the fastest growing economy in the world. GST was introduced on July 1, 2017.
The Goods and Services Tax (GST) will complete one year in operation on June 30 and the first anniversary will be celebrated on July 1.
CBIC member John Joseph said alike small businesses who are making mistakes while filing GST returns, multinationals and big corporates too have slip-ups. "If you look at the way tax revenues are paid, it gives an alarming picture. We have registration of more than 1 crore businesses.
Asking for the refunds to be automatically credited to traders' bank accounts, it has called for one registration number for traders to be allowed across India, instead of taking registrations in every state for doing business. Further, the body suggested that the HSN Code should be made applicable only on the manufacturers and not traders. It has also appealed for assistance to traders to equip them with computers, in order to encourage e-compliance.
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