As part of the capital infusion plan announced by the Finance Ministry in October 2017, the government envisaged that public sector banks (PSBs) would raise Rs 58,000 crore from the stock markets by March 2019 to meet Basel III norms.
The GST collections stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September and Rs 1,00,710 crore in October.
The government data released Friday shows India's economy grew at 7.1 per cent in July-September, lowest in three quarters.
Banks recovered Rs 36,551 crore in the first quarter of 2018-19 and had recovered Rs 74,562 crore during 2017-18.
Plans to approach the Finance Ministry to resolve the GST issue are in the pipeline, said industry sources.
The GSTR-3B of a particular month has to be filed by the 20th day of the subsequent month. The deadline for September return filing was October 20.
Gross direct tax collection in the first six months of the financial year grew 16.7 per cent to Rs 5.47 lakh crore, Finance Ministry said Thursday.
"With the current trend for GST mop-up, it is expected that the monthly collections could again touch Rs 1 lakh crore around November and December," an official said.
The rupee, after crashing to a lifetime low in early trade, rebounded by 69 paise to trade at 72.00 to the US dollar in late afternoon trade on suspected intervention by the central bank.
GSTR-2A is a purchase return auto-generated by the system based on the transaction between a business and its supplier.
The real-time bank-to-bank payment system on mobile platform UPI registered 312.02 million transactions in August, up by 32 per cent in July.
The government has yet not invoked relevant provisions of the Integrated Goods and Services Tax Act, the ministry said.
The total number of GSTR-3B returns filed for the month of May up to June 2018 is 64.69 lakh, the finance ministry said in a statement.
GST has been historic and game changer reform for the Indian economy, Arun Jaitley said while addressing a function commemorating the first year of the implementation of the Goods and Services Tax.
A vibrant example of cooperative federalism and a ‘Team India’ spirit, GST has brought a positive change in the Indian economy, PM Modi said in a series of tweets today. He claimed that the tax reform has brought growth, simplicity and transparency.
The media reports also said the government had sought the views of insurance regulator IRDAI and markets watchdog Sebi on the move. IRDAI does not allow LIC or any other insurer to own more than 15 per cent in any company.
The 'Panama Paper leaks' were originally revealed by the International Consortium of Investigative Journalists (ICIJ) on April 4, 2016, following which, the Indian government had set up the MAG to probe the matter.
Kumaraswamy reportedly told Congress leaders that it has been the convention in coalition government in Karnataka to allow the junior partner to keep the finance portfolio.
Petrol price today hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75, renewing calls for a cut in excise duty to ease the burden on consumers.
The body has written to Reserve Bank Governor Urjit Patel and finance ministry seeking reintroduction of the crucial trade finance instruments
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