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 finance ministry has argued that sanitisers attract GST at the rate of 18 per cent because these are like soaps and antibacterial liquids, all of which attract duty at the standard rate of 18 per cent. If so all of them should either be taxed lower or spared the burden of tax.
Participating in the 40th GST Council meeting held under the Chairmanship of Union Finance Minister and Chairman GST Council, Nirmala Sitharaman through video conference, he thanked the Union government for having provided liberal support to the state.
Several state finance ministers through a video conference have already discussed the post-Covid economic situation and underlined the need for some form of aid especially for the MSME (micro, small and medium enterprises) sector which was hit hard by the pandemic and the subsequent lockdowns.
Earlier, PM Modi, in a letter to the citizens, termed the day as a 'golden chapter' in the history of Indian democracy while pointing out that it was after several decades that the people of the country voted back a full term government with a full majority.
Prime Minister Modi said that in the last one year, some of the decisions were widely discussed and 'remain etched in public discourse' while referring to the abrogation of Article 370 in Jammu and Kashmir, the Ayodhya verdict, doing away with Triple Talaq and the Citizenship Amendment Act (CAA).
