GST collections see 8.9 pc YoY growth at Rs 1.87 lakh crore in October
It is the eighth consecutive month when GST collections stayed above the Rs 1.7 lakh crore mark.
It is the eighth consecutive month when GST collections stayed above the Rs 1.7 lakh crore mark.
The officials from the Kerala Goods and Services Tax (GST) department have seized 104 kg of unaccounted gold valued at around Rs 75 crore in massive raids across gold jewellery-manufacturing units, wholesale outlets and residences in Thrissur district. The raids began on Wednesday and concluded on this morning.
Chief minister Mamata Banerjee today welcomed Centre’s decision to withdraw GST on Life and health insurance, announced today.
The cross-country comparative data on sugar-sweetened beverages (SSB) taxes collated by the World Bank shows that 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.
While highlighting that the reliance on personal funds for business operations increases with age, the survey said among self-employed women, 52% of those over 45 years old use their own savings, compared to only 36% of those aged 25-35 years.
R G Agarwal, Chair, FICCI Committee on Crop Protection and Chairman, Dhanuka Group, said high Goods and Service Tax on crop protection chemicals especially hurts small and marginal farmers by increasing their input cost and prompting them to use these essential ingredients in sub-optimal quantities to the detriment of farm output and their own financial health.
An official note said the government has settled Rs 27,924 crore to CGST and Rs 23,123 crore to SGST from IGST. The total revenue of the Centre and the states in the month of May 2022 after the regular settlement is Rs 52,960 crore for CGST and Rs 55,124 crore for the SGST. In addition, the Centre has also released GST compensation of Rs 86912 crores to states and UTs on 31 May.
This decision was taken to assist the states in managing their resources and ensuring that their programmes, especially the expenditure on capital, are carried out successfully during the financial year.
The SC may have correctly observed that in case it was intended to make the GST Council a decision-making authority, such a qualification would have been included in articles 246A or 279A. But to treat the GST legislations mechanically without considering their long and arduous journey through the maze of our treacherous political system over a period spanning more than three decades would be tantamount to severely undermining the promise held out by GST to transform India into a common market by supplanting our antiquated, multi-layered, multi-point, multi-tax system circumscribed by an odious Inspector Raj.
One of his relatives Mohanachandran says that they have lodged a complaint with the local police at Kollam but the response from the police has been very poor.
