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goods and services tax

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GST receipts 1.31 lakh crore in Nov, 2nd best so far

This is the fifth consecutive month in which collections have crossed the 1 lakh crore benchmark.
Representative Image
Representative Image
Published on Dec 02, 2021 12:02 AM IST
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ByRajeev Jayaswal

GST mop up in Nov at 1.31 lakh cr, second highest since rollout

CGST refers to Central Goods and Services Tax, SGST (State Goods and Service Tax) and IGST (Integrated Goods and Services Tax).
The GST revenues for the month of November 2021, are 25 per cent higher than November 2020, and 27 per cent higher over November 2019.
The GST revenues for the month of November 2021, are 25 per cent higher than November 2020, and 27 per cent higher over November 2019.
Updated on Dec 01, 2021 02:17 PM IST
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PTI |

Centre releases 17,000 crore as GST compensation to states

The Centre expects to collect over 1 lakh crore through cess on luxury, demerit and sin goods, which will be given to the states to compensate them for the shortfall in revenue arising out of the GST implementation.
Tax collection is expected to exceed the target set in the Budget as collections have improved with the revival of the economy. (Representational photo)
Tax collection is expected to exceed the target set in the Budget as collections have improved with the revival of the economy. (Representational photo)
Published on Nov 03, 2021 07:02 PM IST
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Byhindustantimes.com, New Delhi

GST revenue for October 2021 at over 1.3 lakh crore, 2nd highest-ever: Centre

In April this year, 141,384 were collected as GST revenue, the highest since the introduction of the tax regime on July 1, 2017.
The Union ministry of finance (File Photo)
The Union ministry of finance (File Photo)
Published on Nov 01, 2021 02:24 PM IST
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Byhindustantimes.com, New Delhi

After Covid lull, Delhi tax collections pick up in 1st two quarters

The government started implementing a phased relaxation of Covid-19 curbs from May 31 and markets in the city were allowed to open at 50% capacity from the first week of June and at full capacity from mid-June.
The tax collections in Delhi fell last year, as the country went into a lockdown to curb the spread of Covid. (PTI)
The tax collections in Delhi fell last year, as the country went into a lockdown to curb the spread of Covid. (PTI)
Updated on Oct 08, 2021 02:31 AM IST
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ByAbhishek Dey, Hindustan Times, New Delhi

GST mop-up hits 1.17L-cr in September

Indirect tax collections, a weathervane of economic health, have crossed 1 lakh crore for three consecutive months after plunging below the benchmark in June ( 92,849 crore) because of the bruising second wave of Covid-19
It is the fourth highest collection since GST was launched on July 1, 2017. 
It is the fourth highest collection since GST was launched on July 1, 2017. 
Updated on Oct 02, 2021 06:45 AM IST
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ByRajeev Jayaswal, New Delhi

GST revenue collection up by 23% in Sept, collection stands at 1.17 lakh cr

Sikkim reported the highest rise of 144 per cent in September 2021 as compared to the same month last year, followed by Ladakh and Arunachal Pradesh at 61 per cent and 56 per cent, respectively.
The rise in this year’s September GST revenue from last year has been contributed by 30 per cent and 20 per cent higher revenues from import goods and domestic transactions, respectively.
The rise in this year’s September GST revenue from last year has been contributed by 30 per cent and 20 per cent higher revenues from import goods and domestic transactions, respectively.
Published on Oct 01, 2021 02:17 PM IST
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Written by Sharangee Dutta | Edited by Meenakshi Ray, Hindustan Times, New Delhi

Govt effectively cuts borrowing target for FY22

  • This, in effect, reduces the annual gross borrowing target to 10.46 lakh crore for the year to March 31 from the budgeted 12.05 lakh crore.
The Centre’s borrowing calendar for the second half has provided a positive surprise, said Aditi Nayar, chief economist, ICRA Ltd.(MINT)
The Centre’s borrowing calendar for the second half has provided a positive surprise, said Aditi Nayar, chief economist, ICRA Ltd.(MINT)
Published on Sep 28, 2021 01:30 AM IST
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Livemint | ByAsit Ranjan Mishra, New Delhi

Zomato, Swiggy to collect GST for deliveries. What it means for you

Zomato and Swiggy will pay 5 per cent GST as GST is a levy on consumption after the GST Council decided to charge services by cloud kitchens and food delivery platforms.
Zomato and Swiggy will have to collect and deposit the GST with the government from January 1. (File Photo)
Zomato and Swiggy will have to collect and deposit the GST with the government from January 1. (File Photo)
Published on Sep 18, 2021 06:13 AM IST
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Byhindustantimes.com | Written by Meenakshi Ray, New Delhi

No GST on petrol for now, says FM

The decision on including fuel in GST has been most widely watched since these products hit record highs in the past year with the centre and states raising their levies on it, as a measure to make up for the revenue lost due to the pandemic.
Union Finance minister Nirmala Sitharaman(PTI)
Union Finance minister Nirmala Sitharaman(PTI)
Updated on Sep 18, 2021 02:42 AM IST
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ByRajeev Jayaswal, Hindustan Times, New Delhi

GST Council meeting today; may bring diesel, petrol under tax regime

The GST Council may also consider extending the tax concessions on 11 Covid drugs till December 31 and is likely to discuss a proposal to treat food delivery apps such as Zomato and Swiggy as restaurants and levy 5 per cent GST on supplies made by them.
The GST Council meeting will be chaired by Union finance minister Nirmala Sitharman. (PTI File Photo)
The GST Council meeting will be chaired by Union finance minister Nirmala Sitharman. (PTI File Photo)
Published on Sep 17, 2021 06:57 AM IST
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Byhindustantimes.com | Written by Meenakshi Ray, New Delhi

GST Council meeting: Petrol may cost 75, diesel 68 a litre, claims report

  • At present, petrol is sold at 101.19 per litre and diesel at 88.62 in Delhi. In the national capital, central levies account for over 32% of petrol’s price, and state taxes (value-added tax or VAT) 23.07%.
The panel is chaired by the Union finance minister Nirmala Sitharaman.(HT PHOTO)
The panel is chaired by the Union finance minister Nirmala Sitharaman.(HT PHOTO)
Published on Sep 15, 2021 11:07 AM IST
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Byhindustantimes.com, Hindustan Times, New Delhi

From September 1, non-filers of GST return will be banned from filing GSTR-1

  • The move will be enacted under Rule-59(6) of CGST Rules, 2017, which comes into effect from September 1, 2021, said the GSTN.
After the CGST Rule-59(6) comes into effect, the system will check whether GSTR-3B for the previous two monthly tax periods has been filed by monthly filers or not. Quarterly filers will have to file GSTR-3B for the previous quarterly tax period.(Mint Archive)
After the CGST Rule-59(6) comes into effect, the system will check whether GSTR-3B for the previous two monthly tax periods has been filed by monthly filers or not. Quarterly filers will have to file GSTR-3B for the previous quarterly tax period.(Mint Archive)
Published on Aug 28, 2021 09:11 AM IST
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Written by Susmita Pakrasi | Edited by Meenakshi Ray, Hindustan Times, New Delhi

GST kitty rebounds to 1.16 lakh crore in July

The GST revenue in July this year, which indicates the actual volume of business transactions in June, is also about 14% up.
GST collections, which dropped for seven consecutive months from March 2020 after a 68-day nationwide lockdown since March 25 to check the first wave, showed recovery from October last year.(MINT_PRINT)
GST collections, which dropped for seven consecutive months from March 2020 after a 68-day nationwide lockdown since March 25 to check the first wave, showed recovery from October last year.(MINT_PRINT)
Updated on Aug 01, 2021 11:31 PM IST
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ByRajeev Jayaswal, New Delhi

GST slab rationalisation on cards: CEA

  • The original plan was to have a three-rate structure of GST, Subramanian said. “However, what we have to be very cognizant about is that often with policymaking, you don’t want perfect to become the enemy of excellent.
Chief economic adviser (CEA) in the finance ministry Krishnamurthy Subramanian(MINT_PRINT)
Chief economic adviser (CEA) in the finance ministry Krishnamurthy Subramanian(MINT_PRINT)
Updated on Jul 30, 2021 02:23 AM IST
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Livemint | ByAsit Ranjan Mishra, New Delhi

GST officials use RFID to detect tax evasion

GST officials are now identifying vehicles that pose a risk of revenue leakage by comparing details furnished at the time of generating e-way bills for goods movement with the actual movement of vehicles captured at toll plazas.
E-way bills were integrated with the radio frequency identification (RFID) tags in January this year.(HT Photo)
E-way bills were integrated with the radio frequency identification (RFID) tags in January this year.(HT Photo)
Published on Jul 07, 2021 11:34 PM IST
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ByGireesh Chandra Prasad, New Delhi

June GST revenue below 1 lakh crore as second wave saps economy

“The GST collection for June 2021 is related to the business transactions made during May 2021. During May 2021, most of the states/union territories were under either complete or partial lock down due to Covid,” the finance ministry said while releasing the data .
A sales assistant hands produce to a customer at a grocery store, known as a kirana, in Bengaluru, India, on Monday, Jun. 21, 2021.(Bloomberg)
A sales assistant hands produce to a customer at a grocery store, known as a kirana, in Bengaluru, India, on Monday, Jun. 21, 2021.(Bloomberg)
Updated on Jul 07, 2021 05:08 AM IST
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ByRajeev Jayaswal, New Delhi

On GST day, FM says enhanced tax collection is the 'new normal'

This year on GST Day, the fourth anniversary of the tax reform, India commended tax officers in dealing with GST fraud and said that in the last four years the taxpayer base has almost doubled from 66.25 lakh to 1.28 crore.
Union finance minister Nirmala Sitharaman (File Photo)
Union finance minister Nirmala Sitharaman (File Photo)
Updated on Jul 01, 2021 01:11 PM IST
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Byhindustantimes.com | Written by Joydeep Bose

Four years since rollout of GST, India to prize timely returns

The Goods and Services Tax (GST) is an indirect, multi-stage, comprehensive tax in India, imposed on the supply of goods and services. The date of July 1 has been designated by the central government as 'GST Day', observed every year to mark the roll-out of the historic tax reform.
The GST Council is chaired by Union finance minister Nirmala Sitharaman and finance ministers of states are its members. (RAJ K RAJ/HT PHOTO)
The GST Council is chaired by Union finance minister Nirmala Sitharaman and finance ministers of states are its members. (RAJ K RAJ/HT PHOTO)
Published on Jul 01, 2021 05:44 AM IST
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Byhindustantimes.com | Written by Joydeep Bose, New Delhi

E-way bills point to pickup in GST receipts in July

  • Data from GSTN, the company that processes tax returns, showed that the average e-way bills generated this month until June 13 stood at 1.61 million, 25% more than the daily average reported for May.
With easing restrictions, many analysts have predicted economic growth picking up in the coming months.(Mint Archive)
With easing restrictions, many analysts have predicted economic growth picking up in the coming months.(Mint Archive)
Published on Jun 16, 2021 03:57 AM IST
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Livemint | ByGireesh Chandra Prasad, New Delhi

Authoritarian and majoritarian: Bengal finance minister on GST Council

  • Bureaucrats have taken over key committees, undermining the powers of the elected members of the council, Mitra said in a virtual press briefing.
West Bengal state finance minister Amit Mitra .(HT photo)
West Bengal state finance minister Amit Mitra .(HT photo)
Updated on Jun 15, 2021 03:26 AM IST
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ByGireesh Chandra Prasad, New Delhi

GST Council meet: Amit Mitra's video connectivity was poor, says Anurag Thakur

Amit Mitra claimed that when he tried to voice objections after Sitharaman announced the GST Council's decision, his "voice was muzzled as the Secretary brought the meeting to a close and the virtual link was cut off".
Minister of state in the finance ministry, Anurag Thakur, has responded to the remarks of West Bengal Finance Minister Amit Mitra, who claimed that his voice was muzzled at the end of the GST Council meeting.(PTI)
Minister of state in the finance ministry, Anurag Thakur, has responded to the remarks of West Bengal Finance Minister Amit Mitra, who claimed that his voice was muzzled at the end of the GST Council meeting.(PTI)
Published on Jun 13, 2021 06:14 AM IST
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Written by Prashasti Singh, Hindustan Times, New Delhi

GST rates slashed on various Covid-related items: Full list

  • Key decisions were taken during the 44th GST Council meeting on Saturday
Nirmala Sitharaman said Covid-19 vaccines will continue to attract 5% GST. (Rahul Raut/HT PHOTO)
Nirmala Sitharaman said Covid-19 vaccines will continue to attract 5% GST. (Rahul Raut/HT PHOTO)
Published on Jun 12, 2021 06:56 PM IST
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Byhindustantimes.com, Hindustan Times, New Delhi

Remove GST from essential drugs used in fight against Covid-19: Priyanka Gandhi

  • Priyanka Gandhi's tweets come as Union finance minister Nirmala Sitharaman is chairing the virtual meeting of the GST Council on Friday
“Imposing GST on essential medical products like oxygen, ventilators, vaccines and medicines during a pandemic is cruel and insensitive,” said Priyanka Gandhi(ANI)
“Imposing GST on essential medical products like oxygen, ventilators, vaccines and medicines during a pandemic is cruel and insensitive,” said Priyanka Gandhi(ANI)
Updated on May 28, 2021 03:09 PM IST
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Byhindustantimes.com | Edited by Ayshee Bhaduri, Hindustan Times, New Delhi

GST Council meet to centre on shortfall compensation

The GST law assures states a 14% increase in their annual revenue for five years from July 1, 2020 and also guarantees to make good their revenue shortfall, if any, from the compensation cess levied on luxury goods and sin and luxury products.
The Union finance minister is the chairperson of the GST Council, where states/UTs are represented by finance ministers. The council is meeting after a gap of over seven months.(File photo)
The Union finance minister is the chairperson of the GST Council, where states/UTs are represented by finance ministers. The council is meeting after a gap of over seven months.(File photo)
Updated on May 27, 2021 03:07 PM IST
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ByRajeev Jayaswal, New Delhi

Centre may waive GST on items essential for Covid-19

As several states have asked to exempt all Covid-essential materials, equipment, medicines and vaccines from GST, the ‘end use-based exemption’ proposal could be placed before the GST Council, which is the competent authority to decided this matter, they said requesting anonymity.
Several states, including West Bengal and Punjab, proposed the GST waiver.(File photo)
Several states, including West Bengal and Punjab, proposed the GST waiver.(File photo)
Updated on May 26, 2021 05:02 AM IST
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ByRajeev Jayaswal, New Delhi

Merger of GST slabs likely to get delayed

Friday’s GST Council meeting is expected to discuss a host of issues flagged by states relating to tax rates on medical supplies, in addition to the GST compensation mechanism for FY22.
A shopper walks through an aisle displaying personal care goods at a supermarket in Mumbai. (Bloomberg File Photo)
A shopper walks through an aisle displaying personal care goods at a supermarket in Mumbai. (Bloomberg File Photo)
Updated on May 25, 2021 12:35 AM IST
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ByGireesh Chandra Prasad, New Delhi

News updates from HT: MK Stalin urges PM Modi to remove GST on Covid-19 vaccines

  • Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.
Tamil Nadu chief minister and DMK leader MK Stalin wrote a letter to Prime Minister Narendra Modi, urging him to remove the Goods and Service Tax (GST) on Covid-19 vaccines. (ANI Photo)
Tamil Nadu chief minister and DMK leader MK Stalin wrote a letter to Prime Minister Narendra Modi, urging him to remove the Goods and Service Tax (GST) on Covid-19 vaccines. (ANI Photo)
Updated on May 13, 2021 04:57 PM IST
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Byhindustantimes.com, Hindustan Times, New Delhi

Government waives IGST on Covid-relief material

  • IGST is levied on interstate transfer of goods and services and it is shared between the Centre and the state.
The Centre has already waived off basic customs duty on oxygen and oxygen-related equipment (Photo by Sunil Ghosh / Hindustan Times)
The Centre has already waived off basic customs duty on oxygen and oxygen-related equipment (Photo by Sunil Ghosh / Hindustan Times)
Published on May 04, 2021 01:24 AM IST
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ByRajeev Jayaswal, New Delhi

E-way bills suggest GST receipts could see a decline in May

  • Data showed that e-way bills generated for the movement of goods within and across states in April dropped by 31% to 48.9 million from 71 million in March.
Pedestrians walk in front of a board advertising Goods and Service Tax (GST) in front of the Central Goods and Service Tax office in Bangalore.(AFP/For Representative Purposes Only)
Pedestrians walk in front of a board advertising Goods and Service Tax (GST) in front of the Central Goods and Service Tax office in Bangalore.(AFP/For Representative Purposes Only)
Published on May 03, 2021 10:32 PM IST
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ByGireesh Chandra Prasad, Livemint, New Delhi
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