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Government may come up with more measures to arrest slowdown

It is also likely that the government may initiate some more counter-cyclical fiscal and other measures to arrest the slowdown, Das said after announcing status quo on the rate front, disappointing market participants. Das said the central bank would wait for further clarity on the kind and nature of counter-cyclical fiscal and other measures by the government.

GST collection crosses Rs 1 lakh crore mark in November

Helped by government stimulus measures, the Goods and Services Tax (GST) collection in November crossed Rs 1 lakh crore, after dropping below the Rs 1 lakh crore level for three consecutive months amid a deceleration of economic growth. November's GST collection stood at Rs 1,03,492 crore, of which CGST was Rs 19,592 crore, SGST Rs 27,144 crore, IGST collections stood at Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess was recorded at Rs 7,727 crore (including Rs 869 crore collected on imports).GST collection crosses Rs 1 lakh crore mark in November

Finally, some good news: November GST collections up 6%

GST collections were Rs 97,637 crore in November last year and Rs 95,380 crore in October this year. The increase in collections was a sign of economic revival, recovery in demand and measures to ease compliance, government officials told ET. After two months of negative growth, GST revenues witnessed an impressive recovery.

The 6-0 unanimity shock that foxed financial markets

The unanimity reflects that MPC is more wedded to its mandate of keeping inflation at 4%.

Surprise: RBI holds repo, cuts FY20 GDP forecast

Some corporate voices backed RBI’s move but with caveats.

RBI may wait for Budget announcements before taking rate cut decision

“The forthcoming union budget will also provide better insight into further measures to be undertaken by the government and its impact on growth. Against this backdrop, the MPC judged that there is monetary policy space for further action, but it felt it appropriate to take a pause at this juncture.”

View: It's time for a fair distribution of GST proceeds between Centre and states

A lion’s share of GST goes to states. Actual transfers of the Centre’s gross tax collections are about 36%.

State governments not keen to levy GST on exempted goods

“Goods on the exempted list are mass-consumption items. No state will agree to include them,” said the finance minister of a BJP-ruled state. West Bengal FM Amit Mitra also dismissed the GST Council secretariat’s suggestion for a review of the exempted items. The secretariat had shot off a letter to states seeking a revision of exempted items.

Premium phone cos seek Rs 4,000 cap on customs duty

The basic custom duty of 20% is instead causing an annual loss of Rs 2,500 crore to the exchequer due to rampant smuggling of these devices that is also destabilising the business of Indian retailers who stock these phones, an association of manufacturers said in a letter to the Department for Promotion of Industry and Internal Trade.

Gold rate today: Here is how the yellow metal may fare

Bullion counter may trade on a weaker path, said brokerage SMC Global.

GST structure to be reviewed on revenue concerns

Move comes against the backdrop of states complaining about Centre delaying compensation payments.

Government raises concern over fake invoicing in B2B trade impacting GST collections

"It is not only the government, it is also the industry which also has to play an important role. In GST, we are seeing a lot of fake invoicing and it is from business to business," Thakur said at the annual session of Consumer Electronics and Appliances Manufacturers Association.

Sensex jumps 100 points, Nifty near 12,100; RIL hits fresh record high

Telecom stocks soared as all major service providers raised tariffs

Q2 GDP: A last-minute look at key barometers of the economy's health

Most of the readings reinforce the prevailing slowdown mood and hint at Q2 numbers falling below those in Q1.

ET View: Time to boost demand, forget the fiscal deficit target

The time has come for the government to shed its obsession about fiscal deficit targets and borrow more from the market, both to compensate the states for their shortfall in GST collections and to meet its own expenditure commitments. India still has deep reserves of economic resilience and it is necessary to avoid any self-defeating talk of recession.

Market Movers: What changed for D-Street while you were sleeping

Here’s breaking down the pre-market actions.

Fall in GST collection indicates economic slowdown: Congress

In a tweet, senior Congress leader and former Union Minister Jairam Ramesh said, "Slowest tax collection growth in a decade, highest unemployment rate in three years and sharpest slump in core sector output. The Trishul that conclusively establishes economic slowdown. But 'Sab Changa Si' (everything's fine)." He also attached a graph to back his claims.

GST collections remain subdued at Rs 95,380 cr in October

Despite improved festive demand, GST collection remained below Rs 1 lakh crore in October. GST collection rose to Rs 95,380 crore in October against Rs 91,916 crore in September, but it was still 5.29 per cent less in comparison to Rs 1 lakh crore collected in the same month last year. This is yet another month in a row when GST mop-up has slipped below Rs 1 lakh crore. Hit by consumption slowdown, the tax collections have been subdued in the last few months. GST collections remain subdued at Rs 95,380 cr in October

ET Awards 2019: We’re willing to hear, react & intervene when necessary, says Sitharaman

The Union finance minister said the government is working with states to further rationalise Goods and Services Tax (GST) rates and will announce major infrastructure projects to provide an investment boost by the middle of December.

Growth down, but no fear of recession: Finance minister

Nirmala Sitharaman blamed the slowing of GDP growth in the last two financial years on the lagged effect of the so-called twin balance sheet crisis — stress on banks due to nonperforming assets or bad loans on the one hand and heavily indebted corporates on the other. She blamed this on the Congress-led UPA government’s policies.

GST collection remains below Rs 1 lakh crore mark at Rs 95,380 crore in October

This is the third consecutive month when GST mop-up remained below the Rs 1 lakh crore mark.

Slowdown in three sectors, dip in imports hit GST collection

Auto sector, which has seen sales decline for 11 straight months, led the decline with Rs 3,500 crore, followed by cement (around Rs 1,500 crore) and steel (around (Rs 1,200 crore).

ET Explains: The long and short of Modi govt's big-ticket privatisation drive

The move to privatise some of these big state-run firms reinforces Modi govt's reform credentials.

GST collection fall in Jammu and Kashmir due to poor access to internet

Currently, only BSNL landline broadband service with 2G speed is functional in Jammu while the entire Kashmir region with 10 districts is without net facility.

Poor tax mop-up has states going slow on capex in H1: Report

It can be noted that five Opposition-ruled states led by Bengal and Kerala had on Wednesday threatened to sue the Centre for not transferring their GST share since August. Also, barring for April, GST mop-up has never touched the Rs 1 lakh monthly target this fiscal, averaging below Rs 95,000 crore.

Investments may remain subdued in FY20, consumption to improve gradually: Ashu Suyash, Crisil

“Rating Shopping” backfires! If a rating company is doing right, its default ratings would be lower.

GST collections have grown 4.9 % Y-o-Y: RBI Monetary Policy

According to the Central Bank, the share of SGST collections in total GST revenue has been higher than CGST, attributable to the adjustment for input tax credit.

GST collection slips below Rs 1 lakh crore mark to Rs 91,916 crore in September

In another sign of slump, GST collection dropped below Rs 1 lakh cr mark to Rs 91,916 crore for September.

Air India, Bharat Petroleum Corporation to be sold by March: FM Nirmala Sitharaman

Sitharaman says the strategic sale of Air India and BPCL will be wrapped up by March

Finance panel chief NK Singh blasts frequent tinkering with GST rates

Finance commission chairman NK Singh also pitched for a rationalisation in Centrally- sponsored schemes, and blamed the government for not clearly defining the role of the Niti Aayog, which as of now does not have any powers to take financial decisions. The comments come amidst concerns about the continuous fall in GST collection.

Fitch raises India's FY20 fiscal deficit forecast to 3.6% of GDP

Fitch said it was revising the fiscal deficit forecast as revenue collection is likely to fall far short of the projections in the FY2019/20 Union Budget due to weak GST and corporate tax collections. Weak revenue collections resulting from sluggish economic growth and government's sweeping corporate tax rate cut were the other reasons, it said.

GST collections drop below Rs 1 lakh cr to Rs 98,202 cr in August

India's gross GST collections slipped below Rs 1 lakh crore to Rs 98,202 crore in August, according to official data released on Sunday.Gross revenue collections from the Goods and Services Tax (GST) in July stood at Rs 1.02 lakh crore.The August 2019 mop-up was, however, 4.5 per cent higher than the Rs 93,960 crore collected in the same month last year.This is the second time during this year that the revenue collection from the GST has slipped below the Rs 1 lakh crore mark. First, it happened in June when the collection was Rs 99,939 crore.Central GST collections stood at Rs 17,733 crore, State GST Rs 24,239 crore, and Integrated GST Rs 48,958 crore (including Rs 24,818 crore collected on imports) during August this year, a statement said. GST collections drop below Rs 1 lakh cr to Rs 98,202 cr in August

GST collection slips below Rs 1 lakh crore mark to Rs 98,202 crore in August

The numbers are in line with the other disappointing economic indicators. ​​

GST collection slips below Rs 1 lakh crore mark to Rs 98,202 crore in August

The numbers are in line with the other disappointing economic indicators. ​​

From a B2B or B2G company, Tata Power becoming a B2C co: Praveer Sinha

The transformation that Tata Power is going through will also transform the power sector.

ET Explains: The state of the fiscal in first six months

Things look grimmer after Moody's changed the outlook on India from 'stable' to 'negative'.

North eastern states witness over 30% growth in Apr-Jul GST collection

In absolute terms, the total tax collection during April-July of this fiscal year rose to Rs 3.56 lakh crore, as per the data accessed by .

Early inclusion of gas, ATF into GST fold likely

As part of this, the Finance Ministry has started preparing ground for the next round of discussions at the GST Council with proposal for including gas and ATF into GST fold first before evolving consensus on other petroleum products.

Pranjul Bhandari makes a case for direct govt intervention in stressed NBFCs

Until NBFCs revive, rural incomes won't revive in a big way, says HSBC Chief India Economist

GST collection dips below Rs one lakh crore in June

Gross GST collection stood at Rs 1,00,289 crore in May and Rs 1,13,865 crore in April.

GST may see its biggest review since launch, rates and slabs likely to be tweaked

The task has been assigned to a 12-member committee of state and central government officials.

GST collection of states rises to Rs 5.18 lakh cr in FY19

In a written reply to a question in the Lok Sabha, Sitharaman said concerted efforts have been made to improve tax compliance.

Losses due to GST in FY23 to be Rs 13K cr: UP to Finance Panel

Presenting its estimated expenditure plans for the next five years to the 15th Finance Commission recently, UP said its revenue in subsequent years too will be hit because of GST.

Easing burden on telecom companies: Govt panel mulls repayment of AGR dues over 20 years

The govt panel is considering a reduction in the total incidence of taxation to help the troubled sector.

Theatrical release still brings in over 60% of money a movie makes: Ajay Bijli, PVR

"In India, there will always be people who would like to get out to socialise and unwind by watching movies."

Expect 18-20% rise in GST collection between FY20 and FY21: Mahesh Nandurkar, CLSA

The slowdown is the lagged impact of weak investment cycle and weak housing market.

GST might have flaws but cannot damn it now: Finance Minister Nirmala Sitharaman

"GST might have flaws but I'm sorry, it's the 'kanoon' of the country now," Sitharaman said.

Corporate tax cut is a signal to structural reforms: CEA

On the sluggishness in the GST collections, he said the tax collection varies with the nominal rate of GDP in the economy and there has been some slowdown in it.

Economy facing serious stagnation; govt data is dodgy: Congress

Congress spokesperson Sanjay Jha said "the government is in a deep sleep "like Rip Van Winkle", the famous fairytale character. The Reserve Bank itself has lowered India's GDP growth forecast for 2019-20 to 6.1 percent which will be the lowest in last six years. It indicated that the country is headed for serious stagnation."

After Kerala, Punjab says GST needs a fresh look

Falling goods and services tax collections seems to be driving a wedge between states and the Centre.

Record India GST collection an exception rather than the rule

India let fiscal deficit widen for a second straight year as Narendra Modi, who’s seeking a second term in office in elections currently underway, tried to win over voters through cash handouts for farmers and tax cuts for the middle class.

Why it may be premature to cheer the surge in April GST collection

Most leading indicators show production and demand conditions have remained weak.

15th Finance Commission to meet advisory council on GST mop-up

Amid muted growth in GST collections threatening to strain the government's fiscal maths, the 15th Finance Commission will meet here on Friday with its advisory council consisting of leading economists, including Chief Economic Advisor K. Subramanian.

ITC may feel the heat as GST shortfall could lead to higher taxes on tobacco

CLSA said state governments’ tax revenue, including GST, grew just 1 per cent in April-August 2019 from a year ago period compared to the budgeted growth of 20 per cent.

GST collections in May cross Rs 1 lakh crore, up 6.67% YoY

The Goods and Services Tax (GST) collection for the month of May rose 6.67 percent to Rs 1,00,289 crore from a year ago period staying above Rs 1 lakh crore in monthly revenue mop-up. The collection is, however, lower compared to April when the gross revenue had touched all time high of Rs 1,13,865 crore. This figure is about 6.67% higher on a yearly basis but lowers on a monthly basis.GST collections in May cross Rs 1 lakh crore, up 6.67% YoY

Government expects Rs 40,000 crore GST shortfall

A state finance minister said the Centre had informed the GST Council, which met in Goa on Friday, about the expected shortfall at a time when economic growth has slowed down.

Growth rate will be 7% in H2 and 6.5% for full year: Rajiv Kumar, NITI Aayog

You cannot continue to keep the family silver until it tarnishes completely and turns to rust.

GST collection records Rs 1.06 lakh cr in March

The government collected highest ever GST for the month of March crossing the Rs One lakh crore mark. The government mopped up Rs 1,06,577 crore of which CGST is Rs 20,353 crore, SGST is Rs 27,520 crore, IGST is Rs 50,418 crore (including Rs 23,521 crore collected on imports) and Cess is Rs 8,286 crore (including Rs 891 crore collected on imports). GST collection records Rs 1.06 lakh cr in March

GST collection for April scales to record high at Rs 1.13 lakh crore

GST revenue mop-up scaled a monthly record high of over Rs 1.13 lakh crore in April, an increase of 10 per cent over the collection in the year-ago period, on the back of anti-evasion steps taken by tax officers. Total number of summary sales return GSTR-3B filed for the month of March up to April 30 stood at 72.13 lakh. April 2019 is the second consecutive month when Goods and Services Tax (GST) collection exceeded Rs 1 lakh crore. In March, the mop-up was Rs 1.06 lakh crore.GST collection for April scales to record high at Rs 1.13 lakh crore

GST collection jumps to Rs 1.13 lakh crore in April, the highest since its rollout

The GST collections in April jumped to its highest level of Rs 1,13,865 crore since its roll out in 2017.

Govt will miss fiscal deficit target of 3.3%: Bibek Debroy

Debroy said that he believed the overall growth in this financial year would be "around 6 per cent".

GST collection drops to Rs 97,247 crore in February

The IGST came in at Rs 47,000 crore while the CGST and SGST stood at Rs 17,600 crore and Rs 24,200 crore.

GST collection drops to Rs 97,247 crore in February

The IGST came in at Rs 47,000 crore while the CGST and SGST stood at Rs 17,600 crore and Rs 24,200 crore.

Govt should provide more stimulus; lower personal tax: Adi Godrej

"The government should provide more stimulus," the chairman said on the sidelines of India Economic Summit in New Delhi.

GST collections rise to Rs 1.02 lakh cr in January

GST collections in January rose to Rs 1.02 lakh crore - the second highest monthly mop-up after April, the finance ministry said Saturday. This is a significant increase from the collection of Rs 94,725 crore in December 2018, and 14 per cent higher than January 2018 collection of Rs 89,825 crore. The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 is 73.3 lakh. "The total gross GST revenue collected in January 2019 is Rs 1,02,503 crore of which Central GST is Rs 17,763 crore, State GST (SGST) is Rs 24,826 crore, Integrated GST (IGST) is Rs 51,225 crore and Cess is Rs 8,690 crore," the ministry said in a statement. Watch now. (Text: PTI)GST collections rise to Rs 1.02 lakh cr in January

GST collections top Rs 1 lakh crore in January: Govt

GST collections in January crossed Rs 1 lakh crore-mark after a gap of 2 months, the Finance Ministry said Thursday. "The total gross GST Revenue collected in the month of January, 2019 has today crossed Rs 1 lakh crore. This has been a significant improvement over collection of Rs 94,725 crore during last month and Rs 89,825 crore during the same month last year," the ministry tweeted. This is the third time in current fiscal that GST collections have crossed the Rs one lakh crore-mark. Previously in April and October, the collections had surpassed this milestone.GST collections top Rs 1 lakh crore in January: Govt

GST collections cross Rs 1 lakh crore in January: Finance Ministry

Final figures and details of collections for the entire month will be intimated on February 2.

GST meeting: Many taxing questions could be answered this Friday

There is a big question about whether or not the government can afford to cut tax rates at this juncture.

Trend of over Rs 1 lakh cr GST collection is sustainable: Suresh Rohira, Grant Thornton

This government’s tax collection figures are much better than the erstwhile regime, says Rohira.

At WEF meet, India Inc seeks cut in income-tax rates

India’s economic growth slumped to a six-year low of 5% in the April-June quarter, triggering a raft of measures from the government.

GoM on revenue shortfall to study GST collection on services by states

The panel has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of the Goods and Services Tax.

Kapil Sibal takes dig at PM over 'trailer' remark, says don't want to see rest of film

Prime Minister Modi, in an address in Ranchi, on Thursday said development and the fight against corruption and terrorism during the first 100 days of the NDA 2.0 government was just a "trailer" of a fast-paced film.

Weak investment, muted monetary transmission big challenges for Indian economy: Goldman Sachs

The challenges for economy include weak investment, muted monetary transmission and slow GST collections.

Final call at September 20 meeting: GST Council may lower levies on auto, biscuits

GST Council could lower levies for some sectors at its September 20 meeting.

Government likely to announce steps to remove friction points in economy to boost growth

The steps being firmed up by the finance ministry are based on the feedback received from stakeholders.

Slow upward movement in average GST collection puts govt in wait mode

The slight dip in the December numbers over the previous two months can play on government's mind to move critical items like cement and auto parts out of the 28 per cent tax slab.

Slow upward movement in average GST collection puts govt in wait mode

The slight dip in the December numbers over the previous two months can play on government's mind to move critical items like cement and auto parts out of the 28 per cent tax slab.

GST mop up rises marginally to Rs 1.02 lakh crore in July

The July 2019 mop-up was, however, 5.8 per cent higher than the Rs 96,483 crore collected in the same month last year.

Sensex, Nifty fall for 4th day ahead of RBI policy decision

Bears were back in control, with eight shares in the red for every five that advanced on BSE.

GST collection for November drops to Rs 97,637 crore

Of the total GST collection, CGST is Rs. 16,812 crore, SGST is Rs. 23,070 crore, IGST is Rs. 49,726 crore.

GST collections pegged at Rs 7.61 lakh crore for FY20; FY19 budgeted target missed

GST collections by the Centre missed the budgeted target set for the current fiscal by Rs 1 lakh crore, while total mop-up from the indirect tax has been pegged at over Rs 7.61 lakh crore for 2019-20.

Mahindra SOS: Cut taxes or rollback cess as auto gloom deepens

Mahindra said that a welcome first aid would be temporary relief on the GST front or rollback of cess.

GST collections for October 2018 have crossed Rs. 1 lakh crore

GST collections for October crossed the Rs 1 lakh crore mark, with the finance ministry attributing the jump to lower rate, lesser evasion, higher compliance, and negligible interference from taxation authorities. GST collections for October 2018 have crossed Rs. 1 lakh crore

GST collections cross Rs 1 lakh crore in October

The finance ministry has targeted monthly GST collections to be Rs 1 lakh crore for this fiscal, but the actual mop-up has fallen short of the target month after month.

GST collections cross Rs 1 lakh crore in October

The finance ministry has targeted monthly GST collections to be Rs 1 lakh crore for this fiscal, but the actual mop-up has fallen short of the target month after month.

Sensex cools down after 2-day euphoric rally; Nifty gives up 11,600

All eyes are now on the Reserve Bank of India’s rate-setting monetary policy next week.

Market Movers: Drop in Nov GST collection, Trump calls meet on shutdown, Modi confident of 2019

GST collection dropped to Rs 94,726 crore in December 2018, lower than Rs 97,637 crore collected in the previous month.

GST collections likely to top Rs 1 lakh crore in November, December

GST revenue rose to Rs 94,442 crore in September and officials feel it could surpass the landmark one lakh crore on increased demand during festival season.

GST collections likely to top Rs 1 lakh crore in November, December

GST revenue rose to Rs 94,442 crore in September and officials feel it could surpass the landmark one lakh crore on increased demand during festival season.

Kiran Mazumdar Shaw seeks measures to save jobs in auto sector

Shaw's reaction on twitter came after automobile sale in India witnessed its worst-ever drop in August with despatches in all segments, including passenger vehicles and two-wheelers, plummeting to an all-time low.

Corporate tax cut to have 'minor' impact on fiscal deficit: Niti Aayog

"I don't think tax cuts will leave a gaping hole in the fiscal numbers. There will be some, which will be minor," Kumar said.

Budget 2019: Can it clear the revenue mobilisation hurdle?

GST collections have been below estimate at Rs 1,050 bn against govt's expectation of Rs 1,150 bn per month.

Finance minister hopes tax buoyancy will do the trick

Fiscal deficit could rise to 4% of GDP in FY20 as result of cut in corporate tax rates.

Poorer states score big in GST mop-up

Government officials said full impact is visible this year as the settlement of Integrated GST is happening regularly, unlike last year when it was delayed.

Cyclical issues provide great opportunity for structural reforms: Amitabh Kant, NITI Aayog

After this quarter, we could see a steady rise. Demand should rise substantially in the festive season.

Fitment panel rules out GST cut for auto, consumer durables or biscuits

The fitment panel has blamed the current liquidity crisis and troubles of NBFCs for auto sector slowdown.

GST Council meet: Relief for cars, hotels likely; sin goods may be at receiving end

Investors may still welcome any tax cuts ahead of the festive season, said analysts.

Sensex tanks 362 pts, Nifty slips below 11,400; key factors behind market’s pain

Rumours of more distressed names coming out weighed on the banking stocks.

Urgent need to cut both corporate and income tax: Saugata Bhattacharya, Axis Bank

Tax cut is the most effective way of getting out of this slowdown and the sentiment.

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