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 group had also registered grievances on the Administrative Reforms and Public Grievances portal and received a response.
Both Mr Roy and Basu pointed out that on 9 May, chief minister. wrote to the Prime Minister requesting him to waive GST from oxygen, vaccination and other Covid related drugs.
Tax experts, however, said that since the April collections reflect economic activity in March, the GST mop-up in the coming months could see a decline owing to lockdowns in certain parts of the country to curb surge in Covid cases.
The network of fictitious companies was being operated by one Naresh Dhoundiyal in connivance with one Devender Kumar Goyal, who is a Charted Accountant by profession.
Information from analytics tool NETRA (Network Exploration Tool for Revenue Augmentation), was developed by the officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi East to unearth a network of fictitious firms used to generate and pass on fake Input Tax Credit (ITC) of Goods and Service Tax (GST).
