GST collections remain below Rs 1 lakh crore for first time in June

This Rs 1 lakh crore drop in GST collection came after 8 months of continuously posting the collection above Rs 1 lakh crore mark.

Jul 06, 2021, 15:55 PM IST

GST mop-up tops Rs 1.02 lakh crore in May, 65% higher compared to 2020

In addition, while the taxpayers with turnover above Rs 5 crore had to file their returns by June 4, which they would have otherwise filed by May 20, smaller taxpayers with turnover less than Rs 5 crore still have time till first week of July to file the returns without any late fee and interest, and the revenue from these taxpayers is deferred till then.

Jun 05, 2021, 18:38 PM IST

GST revenue hits all-time high of Rs 1.41 lakh crore in April, goes more than Rs 1 lakh crore for 7th time

The gross GST revenue collected in the month of April 2021 is at a record high of Rs 1,41,384 crore, of which CGST is Rs 27,837 crore, SGST Rs 35,621 crore, IGST Rs 68,481 crore (including Rs 29,599 crore collected on import of goods) and cess Rs 9,445 crore (including Rs 981 crore collected on import of goods).

May 01, 2021, 15:34 PM IST

Govt releases Rs 30,000 cr to states as GST compensation

The total amount of GST compensation released so far this fiscal ending March 31 is Rs 70,000 crore. This is over and above the Rs 1.10 lakh crore released to states under the special borrowing mechanism to compensate them for shortfall in the Goods and Services Tax (GST) collection this financial year.

Mar 30, 2021, 22:39 PM IST

GST revenue collection at all-time high in January 2021, stands at Rs 1.19 lakh crore: Ministry of Finance

The Finance Ministry informed that the total number of GSTR-3B Returns filed for the month of December up to January 31 was recorded at 90 lakhs. The Finance Ministry said that the government has settled Rs 24,531 crore to CGST and Rs 19,371 crore to SGST from IGST as regular settlement. 

Feb 01, 2021, 00:07 AM IST

GST collections at record-high of over Rs 1.15 lakh crore in December 2020

The Finance Ministry said that the continued rise in the GST mop-up, which has crossed the psychological Rs 1 lakh crore-mark for the third straight month in the current fiscal, is due to the combined effect of rapid economic recovery post-pandemic and the drive against GST evaders.

Jan 01, 2021, 16:19 PM IST

GST revenue collection for August stands at Rs 86,449 crore: Finance Ministry

The gross GST revenue collected in August 2019 stood at Rs 98,202 crore.

Sep 01, 2020, 20:44 PM IST

GST collections stand at Rs 87,422 crore in July 2020 as against Rs 1,02,082 crore in July 2019

The government has also settled Rs 23,320 crore to CGST and Rs 18,838 crore to SGST from IGST as regular settlement.

Aug 02, 2020, 00:20 AM IST

GST collection up 8% year-on-year to Rs 1.10 lakh crore in January, signals recovery

The higher number is good news for the government which is facing serious revenue shortfall. The higher collection in the month of January is, however, on expected lines given the past trends.

Feb 01, 2020, 10:04 AM IST

GST collections for December 2019 rise by 16% year-on-year to Rs 1.03 lakh crore

The IGST collected from imports, the total revenue during December 2019, increased by 9 per cent in comparison to the revenue during December 2018.

Jan 01, 2020, 20:34 PM IST

GST revenue collection at Rs 98,202 crore in August

The total number of GSTR 3B Returns filed for the month of Julyup to 31st August, 2019 is 75.80 lakh.

Sep 02, 2019, 12:41 PM IST

GST revenue collections rise to Rs 1.02 lakh crore in July

The total number of GSTR 3B Returns filed for the month of June up to 31st July, 2019 is 75.79 lakh.

Aug 02, 2019, 12:59 PM IST

GST Revenue collection for September crosses Rs 94,000 crore

The total revenue earned by central government after settlement in September is Rs 30,574 crore for CGST.

Oct 01, 2018, 13:18 PM IST

GST collections dip for second month in November to Rs 80,808 crore

Of the Rs 80,808 crore collected in November, Rs 7,798 crore has been garnered as compensation cess in November -- the fifth month of GST rollout.

Dec 26, 2017, 18:59 PM IST

GST mop-up, compliance unlikely to improve near-term: Report

There are around 9.6 million registered taxpayers under GST, including around 1.5 million of composition dealers, who are required to file taxes quarterly.

Nov 28, 2017, 16:52 PM IST

Tax collections under GST for July exceeds Rs 91,000 crore target: FM Jaitley

A total of Rs 92,283 crore tax has come in from first filing under GST, Finance Minister Arun Jaitley said on Tuesday.

Aug 29, 2017, 19:24 PM IST

GST Council meet at Vigyan Bhawan begins; to finalize supporting legislations

The crucial Goods and Services Tax (GST) Council meet, headed by Finance Minister Arun Jaitley has commenced at Vigyan Bhavan with the agenda to get the council`s approval on iGST (integrated GST), cGST (central GST) and sGST (state GST) drafts before the second half of the budget session of Parliament that begins on March 9.

Mar 04, 2017, 12:35 PM IST

GST Bill to make peak tax rate 40%, slabs intact for now

The GST levy may go up to 40 percent after the GST Council proposed raising the peak rate in the Bill to 20 percent, from the current 14 percent, to obviate the need for approaching Parliament for any change in rates in future.

Mar 02, 2017, 15:18 PM IST

Centre mulling to 'advance' Winter session for early GST roll out

In a bid to roll out the crucial Goods and Services Tax (GST) from April 1 next year, the Modi government is considering to prepone the Winter session of Parliament to pass the CGST and IGST bills, and pave way for implementation of the new sales tax regime.

Sep 18, 2016, 20:23 PM IST

Assocham for penalty waiver in initial phase of GST rollout

Ahead of the meeting of Empowered Committee of State FMs with industry chambers, Assocham on Friday said it will press for waiver of penalties on unintentional compliance errors which may occur during the initial phase of Goods and Services Tax (GST) implementation.

Aug 26, 2016, 16:35 PM IST