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Former CEA Arvind Subramanian. File | Photo Credit: The Hindu Revenues from the seven-year old Goods and Services Tax (GST) had not lived up to expectations, having attained pre-GST levels only now, and the objective of a ‘Good and Simple Tax’ remains elusive, former Chief Economic Advisor Arvind Subramanian averred on Thursday, terming the lack…
Chairman of the Thirteenth Finance Commission Vijay Kelkar has called upon the country’s next government to undertake urgent reforms in the “unnecessarily complex” GST regime, such as switching to a single tax rate of 12%. Image for representation. File | Photo Credit: The Hindu A key architect of India’s tax reforms and the chairman of…
India’s gross GST revenues hit their second-highest level in March. File | Photo Credit: Reuters India’s gross Goods and Services Tax (GST) revenues hit their second-highest level of ₹1,78,484 crore in March, even as the growth rate in tax collections slowed to 11.5% from 12.5% in February. This lifted the total tally from the indirect…
Read More “Gross GST revenues hit their second-highest level of ₹1,78,484 crore in March” »
February’s GST revenue growth reflected the third-highest uptick in 2023-24 and lifted the total collections so far this year to ₹18.4 lakh crore. File | Photo Credit: Reuters India’s gross revenues from the Goods and Services Tax (GST) grew at a three-month high pace of 12.54% in February to cross ₹1.68 lakh crore, marking the…
Read More “Up 12.5%, February GST kitty is fourth highest ever” »
February’s GST revenue growth reflected the third-highest uptick in 2023-24 and lifted the total collections so far this year to ₹18.4 lakh crore. File | Photo Credit: Reuters India’s gross revenues from the Goods and Services Tax (GST) grew at a three-month high pace of 12.54% in February to cross ₹1.68 lakh crore, marking the…
An Indian consumer goods trader shows letters GST representing “Goods and Services Tax” (GST)at his shop in Hyderabad on August 3, 2016. Growth in India’s gross Goods and Services Tax (GST) revenues bounced back in October with tax collections rising 13.4% to the second-highest monthly tally of ₹1.72 lakh crore. | Photo Credit: AFP Growth…
Read More “GST collections rise 13% to ₹1.72 lakh crore in October” »
The puja items are exempt from GST since 2017, said tax body. (Representative Pic) New Delhi: The Congress on Thursday accused the Narendra Modi government of imposing an 18 per cent GST on the water of the holy Ganga river and termed it the height of “loot and hypocrisy”. The Central Board of Indirect Taxes…
Read More “Congress Says Centre Charging 18% GST On Gangajal, Tax Body Refutes Claim” »
Centre and states has kept Rs 30-crore corpus for this fiscal for the GST reward scheme. Gurugram: The GST lucky draw ‘Mera Bill Mera Adhikar’ scheme was launched in six states and Union Territories on Friday and the Centre and states have set aside a Rs 30-crore corpus for this fiscal for the reward scheme….
Read More “Centre Launches GST Reward Scheme In 6 States And Union Territories” »
Image used for representational purposes only. | Photo Credit: Special Arrangement India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues…
Read More “GST revenues register three-month high in July” »
The 15th Finance Commission has recommended that States be given 41% of the divisible tax pool of the Centre. File. | Photo Credit: Reuters The Centre has devolved over ₹3.09 lakh crore to States till July of the ₹10.21 lakh crore budgeted to be transferred in the current fiscal, Minister of State for Finance Pankaj…
Read More “Centre devolves ₹3.09 lakh crore to States till July” »
