GST collection surges by 10 pc to Rs 1.75 trillion in August
The rise in domestic GST collection was 9.2 per cent, while that from imports was over 12.1 per cent.
The rise in domestic GST collection was 9.2 per cent, while that from imports was over 12.1 per cent.
A plea has been filed before the Supreme Court challenging the constitutionality of certain amendments introduced in the Constitution for implementing Goods and Services Tax (GST), which will be heard by a bench headed by CJI D.Y. Chandrachud on Monday.
Union Minister for Road, Transport and Highways, Nitin Gadkari on Thursday said that India is the fastest growing economy in the world while underscoring the need to develop industries and trade for the growth of the country.
GST council is likely to give clarity on whether tax collected at source (TCS) should be deducted by the buyer or the e-commerce platform
An official spokesperson said Punjab's GST revenue receipts in September 2021 stood at Rs 1316.51 Crore against Rs 1055.24 Crore for the same period the previous year (September 2020).
The constant increase in the collection in recent months indicates the fact that the economy is recovering at a fast pace in the State. The economic activities had borne the brunt due to the COVID-19 situation last year. The State is on the path of economic revival and the increasing GST collection is a clear indicator of it.
Mitra, who demanded for a full tax waiver on Covid-related medical supplies, said his demand for zero GST rate or a token 0.1 per cent would have enabled tax reduction to consumers as well as availability of tax credits to producers was ignored.
The group had also registered grievances on the Administrative Reforms and Public Grievances portal and received a response.
The government has notified the mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover of over Rs 100 crore with effect from January 1, 2021.
'Based on the suggestion of many states, it has now been decided that the central government will initially receive the amount and then pass it on back-to-back to the states as loan.'
