INDIA GST COLLECTION
Income tax cut in Union Budget 2024: India’s middle-class is asking for it but may not get it BUDGET TAX RELIEF: Despite yearly budget hopes, India's middle class likely faces disappointment again over tax cuts amidst inflation. Both citizens and industry seek relief, especially for lower-income earners. However, there is a chance that fisca...
11 Jul, 2024, 12.42 PM ISTRevenues of top 18 states to grow 8 to 10 per cent this fiscal: CRISIL Revenues of India's top 18 states, accounting for 90% of the gross state domestic product, are projected to grow by 8-10% to ₹38 lakh crore this fiscal year, driven by robust GST collections and central fund devolution, according to a CRISIL Ratings...
03 Jul, 2024, 04.35 PM ISTEconomy on strong wicket after fiscal first quarter India's economy showed strong first-quarter performance with surging manufacturing activity, robust GST collections, and record-high Sensex, alongside a rise in passenger car sales and new export orders from overseas markets, as highlighted by indus...
02 Jul, 2024, 06.00 AM IST- ADVERTISEMENT
GST brought relief to households with reduction in prices: FinMin The Goods and Services Tax (GST) has completed seven years of implementation, resulting in cheaper household items, improved tax compliance among businesses, and a wider tax base, according to the finance ministry. Since its introduction on July 1, ...
01 Jul, 2024, 11.52 PM ISTGST collection rises 8 pc to Rs 1.74 lakh cr in Jun The June 2024 GST collection reached Rs 1.74 lakh crore, marking an 8% increase from May 2024. EY India Tax Partner, Saurabh Agarwal, emphasized the need for the next wave of GST reforms to tackle working capital blockages and implement sector-speci...
01 Jul, 2024, 09.15 PM ISTBudget 2024: India’s GST kitty remains central focus; a look at overall collection India GST Collection Budget 2024 | Finance Minister Nirmala Sitharaman is set to incorporate robust Goods and Services Tax (GST) collections, hitting Rs 2.1 lakh crore in April 2024, into Union Budget 2024. With May's collections at Rs 1.73 lakh cro...
01 Jul, 2024, 01.07 PM ISTIndia's economy: A-Z all you need to know before announcement of Union Budget Union Budget will be announced by Finance Minister Nirmala Sitharaman in late July. The report covers key economic indicators, including India's GDP growth at 7.8% in Q4FY24, concerns over consumption expenditure, stable retail inflation at 4.7%, fi...
01 Jul, 2024, 12.49 PM ISTIndia’s ‘sin’ is govt’s bounty: GST cess may deliver Rs 70,000 cr bonanza The Centre is anticipating a significant surplus of approximately Rs 70,000 crore from GST compensation cess collections, even after repaying loans taken during the Covid-19 period on behalf of states. This unexpected windfall is due to robust colle...
24 Jun, 2024, 12.11 PM ISTGST collection in May moderates from record high to Rs 1.73 lakh crore In May, the Centre collected Rs 1.73 lakh crore in GST, a 10% annual increase. This is down from April's record Rs 2.1 lakh crore. The growth stemmed from a 15.3% rise in domestic transactions and a 4.3% decline in imports. Net GST revenue, after re...
02 Jun, 2024, 12.40 PM ISTImplementation of GST has helped poor: Sitharaman Finance Minister Nirmala Sitharaman highlighted the significant impact of GST on the economy, praising its role in benefiting the poor by lowering taxes on essential items and improving tax buoyancy across states.
07 May, 2024, 12.30 AM ISTApril GST numbers are here and they're off the charts India's economy is estimated to have grown 7.6% in FY24. The IMF expects India's GDP to expand 6.8% in FY25, retaining its status as the world's fastest-growing major economy. Total GST collection was ₹1.78 lakh crore in March while the monthly aver...
02 May, 2024, 01.17 AM ISTGST revenue collection hits record high of Rs 2.10 lakh cr in April India's Goods and Services Tax (GST) collections soared to a new peak of Rs 2.10 lakh crore in April, marking a 12.4% increase from the previous year, according to the Finance Ministry. The surge was fueled by a 13.4% rise in domestic transactions a...
01 May, 2024, 02.20 PM ISTGST revenue collection hits record high of Rs 2.10 lakh cr in April, up 12.4% YoY India's Gross Goods and Services Tax (GST) collections hit a record high of Rs 2.10 lakh crore in April, growing 12.4 per cent on year-on-year basis, the Finance Ministry said in a statement on Wednesday.GST revenue collection hits record high of Rs...
01 May, 2024, 01.08 PM ISTAt Rs 1.8 lakh cr, March mopup second best since GST rollout India's goods and services tax (GST) collection in March reached ₹1.78 lakh crore, marking an 11.5% increase from the previous year and the second-highest since the tax regime's launch in 2017. The total gross collection for FY24 exceeded the revise...
02 Apr, 2024, 12.36 AM ISTKey indicators point to economic resilience at the end of FY24: NCAER NCAER's economic review forecasts a strong outlook for India's economy, with robust manufacturing and service sector PMI, buoyant GST collections, and elevated inflation rates likely leading to unchanged policy rates in the upcoming Monetary Policy ...
31 Mar, 2024, 07.02 PM ISTAfter GDP data, Feb numbers show economy continues forward march India's economy continues to cruise with 8.4% expansion in Q4. GST collection surged 12.5%. Auto firms saw highest monthly sales. Manufacturing activity hit a five-month high. Deloitte India highlights broad-based consumption increase. HSBC India Ma...
02 Mar, 2024, 05.30 AM ISTGST collections for February at Rs 1.68 lakh crore, up 12.5% Out of the total collections, Central Goods and Services Tax (CGST) stood at Rs 31,785 crore, State Goods and Services Tax (SGST) was Rs 39,615 crore and Integrated Goods and Services Tax (IGST) was Rs 84,098 crore, including ₹38,593 crore collected...
01 Mar, 2024, 04.52 PM ISTIndia's GST collection increases 12.5% to Rs 1.68 lakh crore in February India's goods and services tax (GST) collection for February reached Rs 1.68 lakh crore, marking a 12.5 per cent increase from the previous year. This growth was driven by a 13.9 per cent rise in domestic GST transactions and an 8.5 per cent increas...
01 Mar, 2024, 04.48 PM ISTPMI, GST mopup point to India's resilient economy in Q4 NCAER noted that high frequency indicator like Purchasing Managers' Index and Goods and Services Tax collection indicated a resilient economy with services accelerating and manufacturing gaining momentum.
29 Feb, 2024, 12.14 AM ISTGST collections surge to ₹1.72 lakh crore in January 2024, marking a 10.4% Y-o-Y growth GST Collections: India's Goods and Services Tax (GST) revenue has witnessed a notable upswing, reaching ₹1.72 lakh crore in January 2024, marking a significant 10.4% Year-on-Year (Y-o-Y) growth. This accomplishment represents the second-highest mont...
31 Jan, 2024, 09.14 PM IST