10,142.15113.05
Stock Analysis, IPO, Mutual Funds, Bonds & More

Government defers release of April GST collection data

As per convention, the government releases GST revenue collection number on the basis of cash collection in a particular month. However, with the situation arising out of COVID-19, the government has decided to wait till the extended deadline for filing returns before release of the collection figure.

View: State governments can be better armed financially to fight Covid-19 by issuing public health bonds

If state governments spend on public health now, chances are high that their residents will be healthier and earn more later. State governments can exploit this ‘virtuous cycle’ to tax their more prosperous residents in the future and repay the bonds. In contrast, raising taxes now could potentially act as a hindrance to economic recovery.

Centre releases Rs 36,400-cr GST compensation to states for 3 months till February

For 2019-20 fiscal (up to November 2019), the Centre has released Rs 1,15,096 crore GST compensation.

March GST collections stand at Rs 97,597 crore

February was the fourth consecutive month when collections crossed Rs 1 lakh crore. Central GST mop-up for March stood at Rs 19,183 core as against Rs 20,569 crore in February.

GST collections fall below Rs 1 lakh cr-mark, March revenues stand at Rs 97,597 cr

GST collections in March slipped below the psychological Rs 1 lakh crore-mark for the first time in four months to Rs 97,597 crore as COVID-19 lockdown that shut most businesses compounded tax collection woes in an already sluggish economy. Goods and Services Tax (GST) mop-up in March recorded a 8.4 per cent decline over March 2019 collection of Rs 1.06 lakh crore. The collections were lower on account of dip in revenues from domestic transactions as well as imports.GST collections fall below Rs 1 lakh cr-mark, March revenues stand at Rs 97,597 cr

India's GST collections are below potential: IMF team

Multiple rates, exemptions and implementation challenges are affecting goods and services tax (GST) collections in India, an analysis by an International Monetary Fund (IMF) team has said.

Govt revises target for GST collections again

Target has been raised to Rs 1.15 lakh crore over the next two months and Rs 1.25 lakh crore in March.

Data analytics, Artificial Intelligence helped improve GST collections: Centre

At the GST Council meetings, there was a feedback from State Finance Ministers about various loopholes due to which tax revenue was not accruing to the government, FM said. Elaborating, Revenue Secretary said that a targeted approach was being followed by tapping on data analytics and Artificial Intelligence and it has helped improve GST collections.

GST collection crosses Rs 1.1 lakh crore in January

This is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after high-level meetings with senior officials of the tax department.

Centre working with states to improve GST collection: FM

In order to spur growth, the government is trying to frontload infrastructure.

GST collections for February stand at Rs 1.05 lakh crore, fall short of target

It was the fourth consecutive month when GST collections crossed Rs 1 lakh crore

ETRISE Top MSMEs Ranking: As GST collections slip, compliance cost increases

A slowdown in consumption is also hurting tax collections and a prolong period of economic uncertainty will further pressure.

GST collection at Rs 1.03 lakh cr in December

Crossing the Rs one-lakh crore mark for the second time in a row, India’s goods and services tax collections for December is at Rs 1.03 lakh crore. It had risen 6% to Rs 1,03,492 crore lakh crore in November, reversing two months of decline, with experts attributing the increase to festive shopping and better compliance.GST collection at Rs 1.03 lakh cr in December

GST collections grow 9% in December to Rs 1.03 lakh crore

Rise due to festive sales and better compliance a sign of revival: Govt sources

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.

Tax authorities detect 634 cases of fraud GST refund claim by exporters worth Rs 1,912 crore

Of the total amount, Rs 238.97 crore had been recovered by the Central GST authorities from the entities which claimed the fraudulent refunds, and 35 people have been arrested by the CGST authorities.

View: Govt needs a carrot-and-stick policy for better GST collections

By the Centre's own estimates, the administration succumbed to Rs 45,682 cr in GST fraud by mid last year.

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

Fiscal deficit hits 132 per cent of Budget Estimate till December

The fiscal deficit or the gap between expenditure and revenue was at Rs 9.31 crore according to the data released by the Controller General of Accounts (CGA).

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.

FinMin sets Rs 1.1 lakh crore monthly GST collection target

Revenue Secretary Ajay Bhushan Pandey had a video conference meeting with top tax officials and impressed upon them to step up measures to achieve direct and indirect tax collection target. The target has been set in the backdrop of the GST collection failing to meet the target for the current fiscal on account of slowdown.

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).

Precision eye for value-price-quality tradeoff will be vital in your 2020 play

In such a market, precision eye for value-price-quality tradeoff will be vital.

Fewer new jobs in FY'20: Report

While the EPFO data suggests that annualised new enrolments could be 106.2 lakh crore for FY’20, the SBI research team calculations show that actual annualised net new payroll could be 73.9 lakhs, about 21 per cent or 15.8 lakh lower than actual net new pay roll generated in FY’18.

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.

Govt has taken steps to address issues without waiting for Budget: Nirmala Sitharaman

Nirmala Sitharaman also said that GST collection, which crossed Rs 1 lakh crore per month mark during the last two months, will remain "good" in coming days. "The government has been regularly taking steps to help sectors which are facing challenges. Without waiting for the Budget, we are taking the steps," the minister said at a press conference here.

Eyeing top 50: Insolvency resolution, cross-border trade, contracts in focus

States might be facing a revenue gap of up to Rs 1.23 lakh crore after withdrawal of GST compensation.

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.

Haryana Records 18 per cent Growth in GST

This was informed in a review meeting held via Video Conferencing of all DETC’s (ST) of Haryana under the Chairmanship of Excise and Taxation Commissioner, Dr. Amit Kumar Agrawal today. It was informed that the return compliance of the State has also shown marked improvement in the month of November, 2019.

Government releases Rs 35,298 crores GST compensation to states

Under fire over delay in GST compensation, the government today released Rs 35,298 crore to states.

Govt will keep intervening to make India a $5-trillion economy: Nirmala Sitharaman

"I am in constant touch with the industry and various sections seeking out interventions. I expect to be on track for $5 trillion target. We need to address the challenges and difficulties. I am not comparing our numbers today to what it should be but focussing on moving towards achieving the target," Sitharaman said.

Buzz of GST rate hike everywhere except my office: Nirmala Sitharaman

"Buzz is everywhere other than my office," Nirmala Sitharaman said. She was responding to a question on whether the GST Council, which will meet on December 18, take up the matter of hike in rates as the shortfall has hit revenue target of the government. States have complained of delay in GST compensation​ owing to the shortfall in GST kitty.

FM Nirmala Sitharaman says centre committed to paying GST compensation; does not give timeline

During the debate in the Rajya Sabha on the bill seeking Parliamentary nod for additional or supplementary spending in the current fiscal, Congress, Left and TMC raised the issue of non-payment of the GST compensation. The FM said the Centre was committed to discharging its obligation and asserted that "no one should have any doubt".

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. ​​

52,720 Integrated GST refund claims pending for more than one year: Thakur

A number of companies applied for Goods & Services Tax (GST) refund since the introduction of the tax regime, he said, adding a total of 1,86,158 entities have filed 36,42,272 refund applications, out of which 34,46,010 refund applications have been finalised as on December 2.

Parliamentary panel asks government to prevent misuse of input tax credit under GST as collection slows

Two years after its launch, the government has begun the review of GST, including a possible resetting of rates along with the slabs, the Standing Committee on Finance headed by Jayant Sinha said in its report tabled in Parliament.

Central GST falls short of budget estimate by 40pc in April-November

CGST collection during Apr-Nov stood at Rs 3.28 lakh crore against budgeted estimate of Rs 5.26 crore.

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.

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.

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.

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 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.

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.

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'.

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.

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.

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

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 .

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.

Government collects Rs 1,00,289 crore GST in May

This is second month in a row when government has managed to collect GST over Rs 1 lakh.

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

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

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.

Government has 'little space' for any fiscal booster: RBI Governor Shaktikanta Das

The RBI Governor said that there is little fiscal space for the government to unveil any countercyclical measures.

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

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 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.

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

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 mop-up rises to Rs 1.02 lakh crore in July

In a good news for the government, GST collection for the month of July has surpassed the one lakh crore mark. Central GST stands at Rs 17,912 crore; and SGST at Rs 25,008 crore. The total number of GSTR 3B returns filed for June up to July 31 is 75.79 lakh. GST Collection dipped below the Rs one lakh crore mark in June for the first time this fiscal.GST mop-up rises to Rs 1.02 lakh crore in July

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.

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.

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 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.

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.

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.

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.

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.

Direct tax mop-up may fall short of Rs 50,000 crore in FY'19, says official

The target for GST collection was revised downwards to Rs 6.44 lakh crore from the Budget Estimate of Rs 7.44 lakh crore.

FY'19 GST mop up overshoots estimates; March collections at record Rs 1.06 lakh crore

The Finance Ministry said the monthly average of GST revenue during 2018-19 is Rs 98,114 crore, 9.2 per cent higher than the previous fiscal.

GST officers prodding businesses to deposit taxes by March 31 to meet fiscal target

Officers also prodding some importers to front-load their integrated GST payments in March to meet target

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 may help beat deficit target: Piyush Goyal

“There is a perception that the fiscal deficit will not be met, but I feel that we will actually do better than our budgeted fiscal deficit,” Goyal told.

GST collections to top Rs 13 lakh crore this fiscal: Piyush Goyal

He said with more number of people coming under the tax net, and successful implementation of eway bill system, there will be scope for rationalisation of tax slabs.

Call of duty: GST collections begin FY19 on a strong note

"The number returns filed for the month of April up to May 31, is 62.46 lakh as against 60.47 lakh filed for March till 30th April," govt said.

What’s next in GST: Consistent laws, crackdown on evaders

Under the new system, input tax credit available to businesses would only be limited to the extent it is reflected on the GST portal.

What’s next in GST: Consistent laws, crackdown on evaders

Under the new system, input tax credit available to businesses would only be limited to the extent it is reflected on the GST portal.

GST mop-up rises to Rs 1.02 lakh crore in January

The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 is 73.3 lakh.

D-Street has a problem with the Budget math: Revenue targets look too ambitious

The government prioritised populism over fiscal prudence, according to analysts.

Too early to comment on GST collections, says govt

As many as 33.2 lakh new taxpayers have registered themselves under the new tax regime until Dec 11

Delhi govt's VAT, GST collection above Rs 26,000 crore

Trade and taxes department officials say the figure also includes Rs 157 crore received as compensation from the Centre for four months as stipulated under the GST regime.

60% registered dealers may escape GST net if turnover threshold doubled

At the end of last March, there were over 87 lakh registered dealers with nearly 45 lakh reporting around Rs 20-lakh turnover.

60% registered dealers may escape GST net if turnover threshold doubled

At the end of last March, there were over 87 lakh registered dealers with nearly 45 lakh reporting around Rs 20-lakh turnover.

September GST collection stands at Rs 94,442 crore against Rs 93,690 crore in August

​Of this, CGST is Rs 15,318 crore, SGST is Rs 21,061 crore, IGST is Rs 50,070 crore and cess collections are Rs. 7,993 crore.

September GST collection stands at Rs 94, 442 crore against RS 93,690 crore in August

​Of this, CGST is Rs 15,318 crore, SGST is Rs 21,061 crore, IGST is Rs 50,070 crore and cess collections are Rs. 7,993 crore.

GST, excise, service tax evasion of Rs 48,555 crore detected during Apr-Dec 2018

Of this, investigation in 3,626 cases of GST evasion/violations was initiated till December in the current financial year by Central GST (CGST) formations.

December GST mop-up slips to Rs 94,700 crore

GST collection dropped to Rs 94,726 crore in December 2018, lower than Rs 97,637 crore collected in the previous month. The total number of sales returns or GSTR-3B filed till December 30, 2018, is 72.44 lakh, the finance ministry said in a statement. Of the Rs 94,726 crore collected, Central GST (CGST)collection is Rs 16,442 crore, State GST (SGST) is Rs 22,459 crore, Integrated GST (IGST) is Rs 47,936 crore and Cess is Rs 7,888 crore.December GST mop-up slips to Rs 94,700 crore

GST mop-up drops to Rs 94,700 crore in December

The total number of GSTR (goods and services tax returns) 3B filed for the month of December 2018, is 72.4 lakh. This is slightly higher than 69.6 lakh returns in the month of November the ministry said in a statement.

GST collections in line with projections, no shortfall: CBEC

The Chairperson of Central Board of Excise and Customs said it was difficult to access the target as exporters would take refund and there would be input tax credit refund as well.

1 2 3 4 5 6 7 8 9 10
NEXT

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

BACK TO TOP