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Maintaining its top position in the collection of Goods and Services Tax (GST) in Punjab, the Ludhiana division leads in both collection and growth rate in the first eight months of this fiscal, the government said on Sunday. The division…
It is now time that India widens the tax base for both direct tax and indirect tax, said Union Finance Minister Nirmala Sitharaman. This should be the focus for both the Central Board of Direct Taxes (CBDT) and also for…
The information of GST Revenue collection from January 2021 to November 2022 is tabulated below. Month GST Revenue (in Rs.) November, 2022 1,45,867 crore October, 2022 1,51,718 crore September 2022 1,47,686 crore August 2022 1,43,612 crore July 2022 1,48,995 crore…
The online skill-based gaming industry is fine with the government raising GST on online gaming from 18 per cent to 28 per cent but it should be levied only on gross gaming revenue (GGR) and not on contest entry amount…
Finance minister Nirmala Sitharaman on Monday asked officials of the Directorate of Revenue Intelligence to go after the big fish behind smuggling drugs into the country and to use data and artificial intelligence extensively to map gold smuggling. The minister…
The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433…
GST has brought a lot of discipline in the financial dealings of the corporate/individual sector. A company like HUL or ITC cannot sell goods and services without paying GST. It has helped in the white economy, ease of doing business,…
In the upcoming Union Budget 2023-24, the Centre is expected to increase its own Goods and Services Tax (GST) revenue target by 14-15 per cent, a senior government official has said. “The revenue collection (GST) is showing a healthy trend.…
The government is expecting a Rs.3-3.5 lakh crore jump in tax revenue in the current fiscal year as per revised estimates of accounts for FY23 that will be presented in the February budget, officials said. Improved compliance, the post-pandemic economic…
India’s GST collection for the month of October surpassed the Rs 1.5 lakh crore mark for the second time since the tax was introduced. Apart from high sales during the festive season, the rise in tax revenue on everything from…