- 06 May 2023 05:49 PM
- New
Text your tax returns: GSTN’s advice to cos with no tax outgo
GSTN’s advice comes in the context of close to a million GST-registered businesses filing ‘nil’ returns on the last day of the last return filing cycle on 20 April, slowing down the system.
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- 06 May 2023 05:45 PM
- New
Grounded airlines and sky-high GST collections: Best of the Week
Bangalore as a city is known for its pleasant weather. That wasn't the case since at least February — staying on the top floor means the roof got baked, and I had to live with sweltering heat. Thankfully, this week brought with it rains – Mango showers – that led to the pleasantness that the IT hub is known for
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- 05 May 2023 05:50 PM
- New
Fuel under GST: Fears of a revenue hit are exaggerated
GST revenue set another record this April, reaching ₹1.87 trillion, beating the mop-up of ₹1.67 trillion in April 2022. This increase in GST revenue reflects better compliance, besides higher economic activity. The best thing is that even in real terms, India’s GST growth is 8%. With GST revenue reaching normalcy, isn’t it an opportune time to bring oil under the GST regime?
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- 03 May 2023 06:09 PM
GST Collection In April, 2023 At Record High
Source: https://taxguru.in/goods-and-service-tax/gst-collection-april-2023-record-high.html
April, 2023 has registered a revenue collection (GST) at Rs. 187 lakh crore, which is the highest ever since introduction of GST in July, 2017. GST revenue for April, 2023 are 12 percent higher than April, 2022. Also, this April saw the highest single-day collection of Rs. 68,228 crore through 9.8 lakh transaction on the 20th, the due date for filing the GSTR-3 return Form (which shows actual tax payment after deducting input tax credit or ITC from gross tax liability. Prime Minister commented an this feat stating that “Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance”. This indicates economic recovery, better discipline amongst taxpayers and improved compliance.
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- 03 May 2023 06:02 PM
“Online gaming expected to attract investment once tax policy is finalised”, says FM Sitharaman
According to the minister, the GST Council is engaged in discussions at the ministerial level regarding different aspects of online gaming, such as taxation and regulation.
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- 03 May 2023 05:51 PM
What to make of record GST collections in April
Source: https://www.livemint.com/economy/does-april-gst-set-the-trend-for-the-full-year-11683046509947.html
The April data is for transactions that took place in March, and thus benefits from high year-end economic activity and compliance-related measures. A better metric is year-on-year growth, which doesn't paint a rosy picture.
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- 03 May 2023 05:58 PM
BL Kashyap bags ₹238 crore order from Embassy Constructions for Bangalore project
Source: http://www.gstclub.in/news/987/What-to-make-of-record-GST-collections-in-April
This new contract brings the company's total order book to a robust ₹2,518 crore, excluding GST.
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- 02 May 2023 06:18 PM
Quick edit: GST needs reform
Source: https://www.livemint.com/news/india/quick-edit-gst-needs-reform-11682965029695.html
Even as the West grapples with yet another bank failure, with First Republic Bank being acquired by JPMorgan Chase & Co in an emergency government-led intervention, India’s economy seems to be steaming ahead
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- 02 May 2023 06:15 PM
April kicks off with record ₹1.87 tn GST
On 20 April this year, revenue collections on a single day shot up to a record ₹68,228 crore over 980,000 transactions, the finance ministry said in a statement.
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- 02 May 2023 06:07 PM
Centre, states collect record Rs1.87 trillion GST receipts in April
On 20 April, revenue collections on a single day shot up to the highest ever of ₹ ₹68,228 crore through 980,000 transactions, the finance ministry said
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