Goods and Service Tax News
The collection was lower than Rs 1.31 lakh crore mopped up in November. December is the sixth month in a row when the revenues from goods sold and services rendered stood at over Rs 1 lakh crore. The revenues for December 2021 are 13 per cent higher than the GST revenues in the same month last year.
The move will widen the tax base as food vendors currently outside the GST threshold will become liable to GST. Currently, restaurants registered under GST are collecting and depositing the tax. Cab aggregators like Uber and Ola will have to collect 5 per cent Goods and Services Tax (GST) for booking 2 and 3 wheeler vehicles effective January 1.