#central gst

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What is Goods and Service Tax (GST) and types of GST | Taxation system in India | What is IGST, CGST and SGST

What is Goods and Service Tax (GST) and types of GST | Taxation system in India | What is IGST, CGST and SGST

Goods and Service Tax (GST) Goods and Services Tax (GST) is an indirect tax (consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax, comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process but is meant to be…

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GST Collection Stood At Rs 1.05 Lakh Crore In November

GST Collection Stood At Rs 1.05 Lakh Crore In November

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The total number of GSTR-3B returns filed for the month of November stood at 82 lakh

The government said on Tuesday that it collected goods and services tax (GST) amounting to Rs 1,04 lakh crore in November. The GST revenues were Rs 1.05 lakh crore in October, marking two successive months wherein the GST revenues have topped the Rs 1 lakh crore mark. The collection in…

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Economic Revival Clearly Visible Post COVID-19 Lockdown: Nirmala Sitharaman

Economic Revival Clearly Visible Post COVID-19 Lockdown: Nirmala Sitharaman

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Finance Minister Nirmala Sitharaman said the GST Council will meet again on October 12

Amaravati, Andhra Pradesh: Union Finance Minister Nirmala Sitharaman said on Wednesday that revival of the nation’s economy after the COVID-19 lockdown was clearly visible and the indicators looked positive. “We are getting good positive marks from high frequency indicators. And indicators from all…

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Economic Revival Clearly Visible Post COVID-19 Lockdown, Says Nirmala Sitharaman Finance Minister Nirmala Sitharaman said the GST Council will meet again on October 12 Amaravati, Andhra Pradesh: …

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GST mop-up bounces back in June; crosses ₹90,000 cr

GST mop-up bounces back in June; crosses ₹90,000 cr

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The Finance Ministry on Wednesday released the GST collection data for the first three months of the current fiscal. The June collection exceeded ₹90,000 crore, but it was 9 per cent less than the mop-up in the same month last year. This is the first GST data after the pandemic crippled the economy.

The collection was ₹90,917 crore in June, ₹62,009 crore in May and ₹32,294 crore in…

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CBIC to switch over from files to mobile app as part of digitisation drive

CBIC to switch over from files to mobile app as part of digitisation drive

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The Central Board of Indirect Taxes and Customs (CBIC) will do away with manual handling of files through a completely digitised e-Office app for Central GST and Customs officers, part of the information technology led reforms being undertaken for bettering trade.

The app, launched on Monday in over 500 CGSTand Customs offices across India, will ensure speedier decision making,…

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Central GST collection falls short of budget estimate by 40% during Apr-Nov

The minister said that as many as 999 cases were registered till October in the current fiscal for GST evasion and Rs 8,134.39 crore has been recovered.

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After breaching Rs 1-trn mark in Oct, Nov GST collections dip to Rs 976 bn

Rs 119.22 billion has been released to the states as GST compensation for the months of August and September