Tax Collections

India eyes spending cuts as glitches in GST hit revenue

India eyes spending cuts as glitches in GST hit revenue

Tax receipts were about USD 7.8 billion in July - a little over half the monthly target - mostly because millions of firms failed to comply with the new Goods and Services Tax (GST) system that harmonises all state and central sales taxes but is still a work in progress.

Sep 18, 2017, 18:44 PM IST
GST revenue hit Rs 92,283 cr in July, red line crossed: Arun Jaitley

GST revenue hit Rs 92,283 cr in July, red line crossed: Arun Jaitley

India's maiden GST revenue mop-up got off to a bumper start, with Finance Minister Arun Jaitley saying on Tuesday that taxes worth Rs 92,283 crore were collected in July from just 64.42 percent of the total taxpayer base.

Aug 30, 2017, 08:57 AM IST
Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

Demonetisation: FM Jaitley dismisses slowdown concerns, says higher tax mop up indicates uptick in economic activity

Finance Minister Arun Jaitley on Monday said that the indirect and direct tax collections between April and December this year increased by 25 percent and 12.01 percent respectively compared to the same period last year.

Jan 09, 2017, 12:48 PM IST
 BSE, Nifty snap 2-week losing streak on bargain hunting

BSE, Nifty snap 2-week losing streak on bargain hunting

Snapping the last 2-week losing streak, BSE benchmark Sensex and CNX Nifty regained by 586 points and 200 points respectively on bargain hunting from domestic mutual funds despite selling from foreign funds.

Dec 31, 2016, 14:42 PM IST