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Gross CGST revenue during the month stood at ₹39,835 crore, while SGST and Integrated GST mop-up were ₹47,881 crore and more than ₹1.23 lakh crore, respectively. File | Photo Credit: Getty Images/iStockphoto Gross Goods and Services Tax (GST) collections grew 15.4% to more than ₹2.11 lakh crore in July on higher mop-up from sales and…
After adjusting refunds, net GST mop-up was up 7.3% to about ₹2.11 lakh crore. | Photo Credit: Getty Images/iStockphoto The government’s Goods and Services Tax (GST) revenue in April 2026 surged to an all-time high of Rs 2.43 lakh crore, up 8.7% over April last year. Notably, growth was once again driven by collections on…
Amidst the GST led momentum and quarterly earnings season, the focus on January Auto sales gets diverted, but automakers are expected to report a strong show. While GST rate cuts was a key trigger for buyers who have been on the sidelines for a while now, we now understand this is a structural change and…
Read More “GST-Led Momentum Continues; Tata Motors, TVS, Ashok Leyland Big Gainers” »
Gross Goods and Services Tax mop-up was ₹1.73 lakh crore in September 2024. Last month, the collection was ₹1.86 lakh crore, as per government data released. File. | Photo Credit: Reuters GST collections clocked near double-digit growth to amass ₹1.89 lakh crore in September — a month in which the reduced tax rates came into…
Read More “GST collections rise by 9% to ₹1.89 lakh crore in September” »
Finance Minister Nirmala Sitharaman. File. | Photo Credit: Bijoy Ghosh Finance Minister Nirmala Sitharaman on Wednesday (September 17) said that the GST reforms will bring ₹2 lakh crore into the hands of the common man. Addressing a gathering in Visakhapatnam, Ms. Sitharaman added that the GST Council decision aims to reduce the tax burden on…
At the 56th meeting of GST Council meeting, the current four-tier structure has been replaced with a two-tier one, with a standard rate of 18% and five per cent, and de-merit rate of 40% on selected few goods and services. | Photo Credit: Getty Images The State Bank of India (SBI) in its latest research…
Read More “GST reforms will cause ₹3,700 crore revenue loss to government: SBI report” »
Representative image | Photo Credit: Reuters The GST rate for labour charges (job work) has been increased from 12% to 18% and it is expected to hit hard the Micro, Small, and Medium-scale Enterprises (MSMEs). C. Sivakumar, president of the Coimbatore Tiruppur district Micro and Cottage Entrepreneurs Association, said one of the long-pending demands of…
Ms Sitharaman was addressing the media after the 55th GST Council meeting. Jaisalmer (Rajasthan): Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent, exempted life-saving gene therapy from tax, and extended the GST exemption for parts…
Read More “GST Council Exempts Gene Therapy, Cuts Tax Rate For Rice Kernels” »
Mumbai: Introduction of the Goods and Services Tax (GST) in India was a “classical example of cooperative federalism,” Chief Justice of India D Y Chandrachud said on Saturday. The courts have, over the last few decades, evolved a robust framework on federalism to ensure that the states’ rights are protected, he said, speaking on `Understanding…
Read More ““GST A Classical Example Of Collaborative, Cooperative Federalism”: Chief Justice” »
Union Minister Hardeep Singh said that non-BJP states are not willing to forego the additional VAT. Pune: Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Friday called to build consensus over bringing petrol, diesel under the Goods and Services Tax. While delivering a lecture on “Strategy and Measures for Enhancing India’s Energy…
Read More “Will Petrol, Diesel Come Under GST? Union Minister’s Big Statement” »