03 May 2023 06:09 PM
New

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.

03 May 2023 06:02 PM
New

“Online gaming expected to attract investment once tax policy is finalised”, says FM Sitharaman

Source: https://www.livemint.com/technology/tech-news/online-gaming-expected-to-attract-investment-once-tax-policy-is-finalised-says-fm-sitharaman-11683110760806.html

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.

03 May 2023 05:58 PM
New

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.

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.

02 May 2023 06:07 PM

Centre, states collect record Rs1.87 trillion GST receipts in April

Source: https://www.livemint.com/news/india/centre-states-collect-record-rs1-87-trillion-gst-receipts-in-april-11682947876224.html

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

02 May 2023 06:15 PM

April kicks off with record ₹1.87 tn GST

Source: https://www.livemint.com/news/india/record-gst-collections-boost-indian-economy-april-receipts-reach-1-87-trillion-a-12-increase-yearoveryear-11682964006682.html

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.

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