GST Collection Reaches All Time High, Reaches Rs 2.10 Lakh Crore In April
Increase in Goods and Services Tax collection has been seen after an impressive growth of 13.4 percent in domestic transactions along with an increase of 8.3 percent in imports.
GST Officials Uncover 29,000 Bogus Firms, Unveiling Fake ITC Claims Worth Rs 44,000 Crore
GST officers have uncovered 29,273 fraudulent firms engaged in false Input Tax Credit (ITC) claims amounting to Rs 44,015 crore over eight months until December 2023
Budget 2024-2025: NAREDCO seeks Rs 50,000 crore more under SWAMIH for stalled housing projects; input tax credit under GST
In 2019, the Centre had created SWAMIH fund to complete stalled projects. The size of the fund is Rs 15,530 crore and is being managed by SBICAP Ventures, a wholly-owned subsidiary of the State Bank of India.
71 show-cause notices issued to online gaming companies for GST evasion on sales of over Rs 1.12 lakh crore
Online gaming companies have been suing high courts to challenge the revenue authorities' claims against such GST demands.
Highest Growth: GST collection rises to 15% YoY To Rs 1.68 Lakh Crore in November 2023
October saw a 13% increase in GST revenue, with collections totaling Rs 1,72,003 crore. With Rs 1,87,035 crore, the highest monthly GST mop-ups were recorded in April 2023.
GST Collection Raises To 1.65 Lakh Crore In July 2023
Notably, GST receipts for July 2023 are 11% more than GST revenues for the same month last year.
GST Council Likely To Block Online Games Evading Taxes
There have been worries that by operating from abroad, internet gambling platforms would avoid paying GST. However, one official claimed that in these situations, the tax administration will deduct GST from the payment sources.
GST Collection In May Jumps 12% Y-O-Y To Rs1.57-Lakh Crore
With this, the monthly GST revenue stands at over Rs 1.4 lakh crore for the 14th consecutive month. In the previous month of April 2023
Government Extends Deadline for Goods Transport Agencies to Opt for GST Payment Until May 31
Government Announces May 31 Deadline for Goods Transport Agencies to Opt for GST Payment.
GST Collection Reaches an All-Time High Of Rs 1.87 Trillion In April
The previous biggest collection was Rs 1.68 trillion in April of last year, while the mop-up in March of this year was Rs 1.60 trillion.
