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Home > GST
GST
In the meeting, the GST target was set at Rs 1.10 lakh crore every month between December 2019 and March 2020. Of these four months, Rs 1.25 lakh collections has to be achieved in at least one month, the sources said.
Govt sets Rs 1.1 lakh cr monthly GST collection target; asks taxmen to buckle up
17 Dec 2019 5:44 PM

Taxmen were told that both the GST and Rs 13.35 lakh crore target for direct taxes for 2019-20 will have to be achieved.

This is regarding the fact that the estimate was done by NCAER (National Council of Applied Economic Research) for the ninth Finance Commission for terminal ideal GST, whereas GST -- which is work in progress - may take 20 years. It is not that you are going to get 1.5-2 per cent (additional) GDP growth overnight, said Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister. (Photo: File | PTI)
Impact of GST will take time to show results: Bibek Debroy
17 Dec 2019 12:03 PM

Collections under the GST, which was introduced in July 2017, has remained mostly below the target.

I admit that the payments which had to go the compensation head have not been given for two months slot, FM Nirmala Sitharaman said. (Photo: File | ANI)
Centre will not renege on GST compensations: Sitharaman
16 Dec 2019 4:32 PM

The delays to pass on the money are due to a slip in collections and the states have nothing to worry, said FM Nirmala Sitharaman.

The GST Council will deliberate on the matter of GST compensation at its meeting on December 18.
GST Council to review revenue position, compensation cess on Dec 18
04 Dec 2019 6:53 PM

The meeting of all-powerful GST Council is going to be held against the backdrop of lower-than-expected GST collection.

The Council has sought suggestions, inputs or proposals as regards measures, on compliance as well as rates which would help in augmenting revenue. (Photo: DC)
GST Council to review GST revenue position, compensation cess
03 Dec 2019 7:38 PM

The meeting of all powerful GST Council is expected to take place in the second half of this month to deliberate on a host of issues.

GST revenues witnessed an impressive recovery with a positive growth of 6 per cent in November 2019 over November 2018 collections, an official statement said.
GST revenue grows 6 per cent, crosses Rs 1 lakh cr in November
01 Dec 2019 4:56 PM

According to official sources, the number reflects pick up in consumption and improvement in compliance as well.

Government had failed to receive its share of the Goods and Services Tax (GST) dues of Rs 1600 crore from the Centre. (Photo: DC)
Financial crunch due to Centre's failure to release GST dues
19 Nov 2019 5:37 PM

The Centre has also reduced the credit limit of the state by almost Rs 6000 crore.

Although the Nikkei/IHS Markit Services Purchasing Managers’ Index (PMI) rose to 49.2 last month from 48.7 in September, it remained below the 50-mark threshold separating contraction from growth on a monthly basis.
India's services activity contracts for second straight month in October
05 Nov 2019 12:56 PM

Last time services activity contracted for two consecutive months was in August 2017 following the GST implementation.

The total number of GSTR 3B returns (summary of self-assessed return) filed for the month of September (up to October 30) was 73.83 lakh.
GST collections remain subdued at Rs 95,380 cr in October
01 Nov 2019 4:42 PM

The gross GST revenue collected in the month of October, 2019 is Rs 95,380 crore of which CGST is Rs 17,582 crore.

I am not saying boisterous or we are going to have a runaway boom. I am saying that as we are moving ahead, growth will move higher from where it is. We are probably at the trough, Puri said. (Photo: File)
Growth reaches a trough; to start improving by Jan: Aditya Puri
06 Oct 2019 6:25 PM

A few companies, especially with exposure to the realty space, may face problems in the future, said HDFC's Aditya Puri.

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