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.
The RBI said that given the existing liquidity overhang, absence of a need for additional borrowing for GST compensation.
The 43rd GST Council meeting on May 28, 2021 had decided that the central government would borrow Rs 1.59 lakh crore in 2021-22.
The GoM on GST system reforms would identify potential sources of evasion and suggest changes in business processes and IT systems to plug revenue leakage.
The GST is being levied on this service (9 per cent SGST and 9 per cent CGST) or 18 per cent IGST thereby increasing the freight on this mode of transportation substantially, the CM said.
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review tax rate of over four-dozen items,
