GST collection March 2023: It is for the fourth time, in the current financial year, that the gross GST collection has crossed Rs 1.5 lakh crore mark, registering second highest collection since implementation of GST. This month witnessed the highest IGST collection ever.
February GST Collection: The revenues for the month of February 2023 are 12% higher than the GST revenues in the same month last year, which was Rs. 1,33,026 crore.
With this release, the Centre would clear the entire provisionally admissible compensation cess dues for 5 years as envisaged in the GST (Compensation to States) Act, 2017, Finance Minister Nirmala Sitharaman added.
The probing agency have alleged that the accused had accumulated disproportionate assets to the tune of around Rs 3,71,12,499 (approx) in the form of huge cash, bank balances, movable and immovable properties during 2017 to 2021 in the name of several family members.
Budget 2023: Core educational services are currently exempt from GST, but Edtech products like online classes and courses are subject to the 18% GST threshold.
In November 2022, 7.9 crore e-way bills were generated, which was significantly higher than the 7.6 crore e-way bill issued in October 2022.
High unemployment rate in India: The Congress leader said it was appropriate to release the movie in Rajasthan as it was the first state to launch urban employment grantee scheme, which was named after Indira Gandhi, in September.
The growth in GST revenue till September 2022 over the same period last year is 27 percent, thus continuing to display very high buoyancy.
"The collection in September is likely to be little more than Rs 1.45 lakh crore. Improved business activity is expected to yield better collections in coming months," the official said.
Finance Minister Nirmala Sitharaman had accused then Congress government of implementing half-baked reforms where the economy was not opened in the right way but as per the strictures imposed by the IMF.
Certain sections of the media and social media are spreading the message that GST has recently been imposed with effect from 18 July, 2022 even on ‘Sarais’ run by religious/charitable trusts. This is not true, Central Board of Indirect Taxes & Customs said.
Business news: The collections in July this year is the second highest since the introduction of GST in July 2017, the ministry said in a statement.
The 'WhatsApp forward' shared by the Congress leader Shashi Tharoor included a tax question on paneer butter masala. Take a look.
Rahul slams Centre over GST: In a tweet on Wednesday, Rahul Gandhi said that the recipe of "Gabbar" for people struggling with inflation is to "make less, eat less and satisfy hunger with the tadka of jumlas".
GST News: The government has exempted GST from being levied on several food items if they are sold in loose. Check out the list.
New GST rates: The CBIC said the supply of pre-packed atta meant for retail sale to the ultimate consumer of 25 Kg shall be liable to GST. However, supply of such a 30-kg pack thereof shall be exempt from levy of GST.
As per the new tax rules, the price rise will be faced by the common people in the coming time. Pre-packed and labelled food items are set to become costlier starting Monday.
The doctors' body cited another recommendation which stated that room rent exceeding Rs 5,000 per day per patient charged by the hospital will also be taxed at 5 percent, without input tax credit (ITC).
Under the GST, a four-rate structure that exempts or imposes a low rate of tax of 5 per cent on essential items and a top rate of 28 per cent on cars is levied. The other slabs of tax are 12 and 18 per cent.
The tax base has significantly increased since July 1, 2017. As of March 31, 2022, there are 1.36 crore active GST registrations in the country.
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