Proposed GST slab of 35% is a deterrent for growth
As per a cross-country World Bank study on sugar-sweetened beverages, India has one of the highest tax rates for carbonated soft drinks (CSDs) at a total tax rate of 40 per cent as of 2023.
As per a cross-country World Bank study on sugar-sweetened beverages, India has one of the highest tax rates for carbonated soft drinks (CSDs) at a total tax rate of 40 per cent as of 2023.
The collections were up 8.1 per cent from the previous month and saw an 8.9 per cent increase year-on-year. October 2024 recorded the second-best GST mop-up. The highest ever collection was in April 2024 at over Rs 2.10 lakh crore.
Speaking at the 64th annual Automotive Component Manufacturers Association (ACMA) session, the President said the auto sector also contributes significantly to the direct and indirect employment generation in the country.
he progressive collection under State GST up to July 24 stands at Rs.8866.95 crore against a collection of Rs 7055.53 crore up to July 23 with a growth rate of 25.67%.
The GST Department cited its obligation to protect the privacy of certain individuals as a reason to not reply to the query.
"Haryana’s total tax collection has reached Rs 32,076 crore compared to Rs 27,155 crore during the same period in the previous year, marking an impressive increase of 18.3 per cent,” an official spokesperson said.
“Revenue collection has increased to Rs 1,07,406 crore while the GST collection of more than Rs 37,000 crore has been done in the current financial year," said CM Yogi.
"Rising GST revenues despite low rates shows enhanced tax compliance, integration of the economy at state, as well as at national level," he added.
Chief Minister Manohar Lal Khattar said the state has made remarkable progress in GST collection, which shows that the state is progressing.
The government has settled Rs 34,770 crore to CGST and Rs 29,054 crore to SGST from IGST as regular settlement.
