Page 8 - Gst Collection

GST mop-up over Rs 1 trn in Dec, revenue from domestic transactions up 16%

In December 2018, the GST collection was Rs 97,276 crore

Ahead of GST meet, FICCI body calls for retaining rates on tobacco products

Currently, GST rate on these products are 28 per cent while cess varies between 61 to 204 per cent

Best of BS Opinion: Lessons for BJP, India's economic slowdown, and more

Here's a collection of Business Standard Opinion pieces for the day

GST fraud worth Rs 900 crore busted, three sent to judicial custody in TN

The kingpin and two of his accomplices were arrested and produced before a court which remanded him in judicial custody and further probe is on, the official said

Govt sets Rs 1.1 trillion as monthly GST target for tax officials

Four of eight months in this fiscal year have delivered less than Rs 1 trn collection

Impact of GST will take time, results will not be visible overnight: Debroy

The GST collections came in at Rs 95,380 crore in October, down 5.29 per cent from Rs 1,00,710 crore in the same month last year, as per government data

Centre will not renege on promise of GST compensations, FM assures states

The delays to pass on the money are due to a slip in collections and the states have nothing to be embarrassed about, she said

GST Council meet may turn stormy over states' cess; Rs 50k-cr dues pending

The Centre has, so far, not given any definite timeline for making the pending compensation cess payments to states, thereby triggering a face-off between the two sides

Higher GST rate on mobiles, fabrics likely to boost revenue collection

The GST rate on mobile phones is 12%, whereas that on phone parts and batteries is 18%

Falling GST collections: Parliamentary panel asks Centre to address issue

The Centre has paid Rs 45,745 crore as compensation to states for their revenue loss under GST for the first four months of the current financial year

Fixing the GST

Fundamental improvements to the flawed structure needed

5% GST slab may be increased to 6%: Panel considering ways to boost revenue

The panel is also looking at bringing under GST items like foodgrains that faced either value-added tax or purchase tax

GST mop-up crosses Rs 1 trn in Nov over festive demand, anti-evasion steps

Although the collection figures come as a breather for the government, it is lower than the expected collection rate needed to meet the steep target for FY20

GST collection up 6% in Nov, crosses Rs 1 trn after a gap of three months

The GST collection was Rs 95,380 crore in October while it was Rs 97,637 crore November 2018

Letter to BS: Govt's strategic sale move will fetch a few positive results

Privatisation is at the centre of any move to liberalise the economy, more so, if we want to become a developed country one day

Amid GST delays, poor non-tax mop-up, states went slow on capex in Apr-Sep

The report said Maharashtra and Himachal ran a fiscal surplus in H1, but the numbers in both the states are much lower than that of H1 of FY19

No plan to cut spending on welfare schemes despite low revenues, says FM

The government has high expenditures on such welfare schemes which are aimed at poorer sections and agriculture

GST collection dips sharply in Maharashtra, Haryana; deficit worries mount

This will impact finances of the two states in FY20, especially when the share of states in corporation taxes will fall due to corporation tax cuts

Pragmatic tax collection can cut fiscal deficit

Time has come to monitor empirically the buoyancy and elasticity of the tax system

Risk to state govt finances

Debt at the subnational level is high