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"Not Sitting With Huge Suitcase...": N Sitharaman On GST Compensation Demands
Responding to complaints from states that they will not be compensated for losses in revenue, if any, from the GST reforms, Nirmala Sitharaman has said the decision was taken by consensus in the GST council.
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Keep 2, Eliminate 2. Rationale Behind Proposed New GST Rates Explained
Rationalisation of the GST framework - a process that began this morning with Finance Minister Nirmala Sitharaman chairing a GST Council meet - is based on sharp differences in revenue collected under each of the existing four slabs.
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Centre, States Equal Stakeholder In GST, Revenues Shared Equally: Report
Amid news regarding the impact of the 'Next Gen GST', government sources clarified that the Centre is an equal partner in revenue sharing with the states and that its proposal anticipates a revenue boost over time, driven by increased consumption.
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GST Collections Rise 7.5% In July To Rs 1.96 Lakh Crore
India's Goods and Services Tax (GST) collections rose to Rs 1.96 lakh crore in July, up 7.5 per cent from the same month previous year, according to government data released on Friday.
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GST Revenues Hit Record Rs 2.10 Lakh Crore In April. Here's What Led To It
Goods and Services Tax collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said today.
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Arvind Kejriwal Credits "Honest Governance" For Delhi's Rising GST Revenue
GST collections in Delhi NCT have been rising consistently over the past several years.
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"Great News For Economy": PM Lauds Highest-Ever GST Collection In April
Prime Minister Narendra Modi called GST revenue collection for April 2023 being highest ever at Rs 1.87 lakh crore "great news for the Indian economy."
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Karnataka Demands Extension Of GST Compensation To States Beyond 2022
Amid fall in state revenue and GST collection in view of COVID-19 crisis, Karnataka Chief Minister Basavaraj S Bommai on Thursday demanded the Centre to extend the GST compensation period to states beyond 2022, for three more years.
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January GST Revenue At Record High Of Rs 1.2 Lakh Crore Ahead Of Budget
Goods and services tax or GST revenue collected in January stood at Rs 1.19 lakh crore, the finance ministry said on Sunday, in a record figure a day before the government unveils the country's annual budget.
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"Betrayal": Mamata Banerjee, 5 Other Chief Ministers Write To PM Over GST
The chief ministers of six non-BJP-ruled states have written to the centre to remind it of its "constitutional" responsibilities in the stand-off over the Rs 2.35 lakh crore shortfall in GST compensation and financial relief (from the pandemic) due to states. Mamata Banerjee (Bengal), Pinarayi Vijayan (Kerala), Arvind Kejriwal (Delhi), Edappadi K P...
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Will Pay GST Arrears Despite Losses Due To "Act Of God": Centre To States
The centre in a letter to the states has promised it would clear their goods and services tax (GST) dues despite the massive shortfall in GST cess collection amid the coronavirus pandemic, a situation that has been described as "an act of God" by Finance Minister Nirmala Sitharaman. The government in the letter said it wants to stay clear of "avoid...
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"Centre Morally Bound To Compensate States For GST Shortfall": Sushil Modi
Bihar Deputy Chief Minister Sushil Kumar Modi on Wednesday said the central government is "morally bound" to compensate states for the revenue shortfall on account of low GST collections in the wake of the COVID-19 pandemic.
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Slowdown In Auto Sales Ahead Of BS6 May Hamper Sales Margins And GST Collection
Auto experts say that if sales continue to drop further, the industry may a face problem to sustain margins, given the advent of emission and safety norms which require automakers to hike prices. SIAM also says that further decline in sales would affect GST revenue collection as well.
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Karnataka Wants Goods and Services Tax Compensation Extended Beyond 2022
Karnataka on Saturday sought extension of the Compensation Act beyond 2022 to bridge the revenue gap likely to arise out of a shortfall in the collection of the Goods and Services Tax (GST).
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Tax Collection Growing By 15-20 Per Cent Every Year: Arun Jaitley
With a 15-20 per cent average increase in direct tax collections in recent years, government revenues are certain to grow, even as the economy becomes more formalised with Indians adopting technology in greater numbers, Finance Minister Arun Jaitley said on Thursday.
-
"Not Sitting With Huge Suitcase...": N Sitharaman On GST Compensation Demands
Responding to complaints from states that they will not be compensated for losses in revenue, if any, from the GST reforms, Nirmala Sitharaman has said the decision was taken by consensus in the GST council.
-
Keep 2, Eliminate 2. Rationale Behind Proposed New GST Rates Explained
Rationalisation of the GST framework - a process that began this morning with Finance Minister Nirmala Sitharaman chairing a GST Council meet - is based on sharp differences in revenue collected under each of the existing four slabs.
-
Centre, States Equal Stakeholder In GST, Revenues Shared Equally: Report
Amid news regarding the impact of the 'Next Gen GST', government sources clarified that the Centre is an equal partner in revenue sharing with the states and that its proposal anticipates a revenue boost over time, driven by increased consumption.
-
GST Collections Rise 7.5% In July To Rs 1.96 Lakh Crore
India's Goods and Services Tax (GST) collections rose to Rs 1.96 lakh crore in July, up 7.5 per cent from the same month previous year, according to government data released on Friday.
-
GST Revenues Hit Record Rs 2.10 Lakh Crore In April. Here's What Led To It
Goods and Services Tax collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said today.
-
Arvind Kejriwal Credits "Honest Governance" For Delhi's Rising GST Revenue
GST collections in Delhi NCT have been rising consistently over the past several years.
-
"Great News For Economy": PM Lauds Highest-Ever GST Collection In April
Prime Minister Narendra Modi called GST revenue collection for April 2023 being highest ever at Rs 1.87 lakh crore "great news for the Indian economy."
-
Karnataka Demands Extension Of GST Compensation To States Beyond 2022
Amid fall in state revenue and GST collection in view of COVID-19 crisis, Karnataka Chief Minister Basavaraj S Bommai on Thursday demanded the Centre to extend the GST compensation period to states beyond 2022, for three more years.
-
January GST Revenue At Record High Of Rs 1.2 Lakh Crore Ahead Of Budget
Goods and services tax or GST revenue collected in January stood at Rs 1.19 lakh crore, the finance ministry said on Sunday, in a record figure a day before the government unveils the country's annual budget.
-
"Betrayal": Mamata Banerjee, 5 Other Chief Ministers Write To PM Over GST
The chief ministers of six non-BJP-ruled states have written to the centre to remind it of its "constitutional" responsibilities in the stand-off over the Rs 2.35 lakh crore shortfall in GST compensation and financial relief (from the pandemic) due to states. Mamata Banerjee (Bengal), Pinarayi Vijayan (Kerala), Arvind Kejriwal (Delhi), Edappadi K P...
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Will Pay GST Arrears Despite Losses Due To "Act Of God": Centre To States
The centre in a letter to the states has promised it would clear their goods and services tax (GST) dues despite the massive shortfall in GST cess collection amid the coronavirus pandemic, a situation that has been described as "an act of God" by Finance Minister Nirmala Sitharaman. The government in the letter said it wants to stay clear of "avoid...
-
"Centre Morally Bound To Compensate States For GST Shortfall": Sushil Modi
Bihar Deputy Chief Minister Sushil Kumar Modi on Wednesday said the central government is "morally bound" to compensate states for the revenue shortfall on account of low GST collections in the wake of the COVID-19 pandemic.
-
Slowdown In Auto Sales Ahead Of BS6 May Hamper Sales Margins And GST Collection
Auto experts say that if sales continue to drop further, the industry may a face problem to sustain margins, given the advent of emission and safety norms which require automakers to hike prices. SIAM also says that further decline in sales would affect GST revenue collection as well.
-
Karnataka Wants Goods and Services Tax Compensation Extended Beyond 2022
Karnataka on Saturday sought extension of the Compensation Act beyond 2022 to bridge the revenue gap likely to arise out of a shortfall in the collection of the Goods and Services Tax (GST).
-
Tax Collection Growing By 15-20 Per Cent Every Year: Arun Jaitley
With a 15-20 per cent average increase in direct tax collections in recent years, government revenues are certain to grow, even as the economy becomes more formalised with Indians adopting technology in greater numbers, Finance Minister Arun Jaitley said on Thursday.
