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GST collections News

GST collections

01 Nov 2024

GST Collections In October Increase By 9% To Rs 1.87 Lakh Crore

In April this year, the total GST mop-up surged to a record high of Rs 2.10 lakh crore.

01 Oct 2024

GST Revenue Growth Rate Slows In Sep, Collections At Rs 1.73 Lakh Crore

GST collections during the April-September period of the current fiscal year grew 9.5 per cent to over Rs 10.87 lakh crore.

22 Sep 2024

GST 2.0 Will Further Ease Tax Compliances And Boost Economic Growth

The Finance Minister proposed some measures in the Budget to signal that new GST 2.0 will unlock trade potential and further ease compliances in the tax laws to foster further economic growth.

GST collections

01 Aug 2022

GST collections in July second highest ever, rise 28%

In June 2022, total GST collections were at Rs 1.44 lakh crore. Last month, the five-year of the GST regime was completed. GST was introduced in the country w.e.f. 1st July 2017 and States were assured compensation for loss of any revenue.

GST collections

01 Jul 2022

GST collections in June leaps to Rs 1.44 lakh crore

GST revenue for May stood at nearly Rs 1.41 lakh crore. GST collection figure in May was Rs 1,40,885 crore. The two-day 47th GST Council meeting in Chandigarh just finished.

GST collections

01 Jun 2022

GST revenues hike 44% y-o-y to nearly Rs 1.41 lakh crore in May 2022

GST revenues came in lower than the record high collection in April at Rs 1.68 lakh crore. In March 2022, GST revenues were at Rs 1.42 lakh crore. In February, collections were Rs 1.33 lakh crore.

GST collections

01 Feb 2022

GST collections in Jan 2022 at Rs 1,40,986 crore highest since GST’s inception

Sitharaman also thanked the taxpayers, and said, “Taxpayers deserve applause." GST collection in January had witnessed a growth of 15 per cent over the year-ago period. January 2022 is the fourth month when GST collection has surpassed the Rs 1.30 lakh crore mark.

01 Oct 2021

GST collection remains over Rs 1.17 lakh crore in September

GST revenues are 23 per cent higher than revenues in September 2020. CGST in September 2021 stood at Rs 20,578 crore. SGST was Rs 26,767 crore while the IGST was Rs 60,911 crore.

GST collections

01 Sep 2021

GST collection tops Rs 1 lakh crore for 2nd straight month in August

The mop up in August is, however, lower than Rs 1.16 lakh crore collected in July 2021. The revenues for the month of August 2021 are 30 per cent higher than the GST revenues in the same month last year. In August 2020, Goods and Services Tax (GST) collection was Rs 86,449 crore.

GST collections

01 Jan 2021

GST collections at record-high of over Rs 1.15 lakh crore in December 2020

The Central GST mop-up stood at Rs 21,365 crore, State GST was Rs 27,804 crore, Integrated GST was Rs 57,426 crore The government has settled Rs 23,276 crore to CGST and Rs 17,681 crore to SGST from IGST as a regular settlement The total revenue earned by the Centre and the state govts after regular settlement in the month of Dece is Rs 44,641 cr for CGST and Rs 45,485 cr for the SGST

GST collections

27 Aug 2020

Centre gives 2 options to states on GST, says COVID-19 hits GST collection

Ajay Pandey said, "Option 1 presented to GST Council was to provide a special window to states, in consultation with RBI to provide Rs 97000 crores at a reasonable interest rate" "Option 2 presented to GST Council was that the entire GST compensation gap of Rs 2,35,000 crore of this year can be met by states, in consultation with RBI" "These options will be sent to states for a view within 7 days and will apply for this fiscal year only," the Finance Secretary added

GST collections

01 Jan 2020

GST collections for December 2019 rise by 16% year-on-year to Rs 1.03 L cr

The IGST collected from imports, the total revenue during December 2019, increased by 9 per cent in comparison to the revenue during December 2018.

GST collections

01 Apr 2019

GST collection records Rs 1.06 lakh cr in March

Total number of summary sales return GSTR-3B filed for the month of February up to March 31, stood at 75.95 lakh.

GST collections

01 Mar 2019

GST collection drops to Rs 97,247 crore in February

The number of sales return or GSTR-3B filed for the month of January up to February 28, 2019 is 73.48 lakh.

27 Feb 2018

GST collection dips marginally in January to Rs 86,318 crore

FinMin said that 1.03 crore taxpayers have been registered under GST till Feb 25, of which 17.65 lakh are composition dealers who are required to file returns every quarter.

GST collections

26 Dec 2017

GST collections dip for second month in November to Rs 80,808 crore

Of the Rs 80,808 crore collected in November, Rs 7,798 crore has been garnered as compensation cess in November -- the fifth month of GST rollout.

30 Nov 2017

12%, 18% GST rates to be merged; 28% on luxury, sin goods: Arun Jaitley

Finance Minister Arun Jaitley said a single rate GST is possible only in countries which have similarly placed population and in a highly differentiated society like India it would have been inflationary.

28 Nov 2017

GST mop-up, compliance unlikely to improve near-term: Report

There are around 9.6 million registered taxpayers under GST, including around 1.5 million of composition dealers, who are required to file taxes quarterly.

Tax Collections

18 Sep 2017

India eyes spending cuts as glitches in GST hit revenue

Tax receipts were about USD 7.8 billion in July - a little over half the monthly target - mostly because millions of firms failed to comply with the new Goods and Services Tax (GST) system that harmonises all state and central sales taxes but is still a work in progress.

India's GDP Growth

30 Aug 2017

'GDP growth to slow down to 6% in Q1, better to track GVA'

Explaining the lower GDP growth as against the GVA growth, HSBC said a large subsidy outgo will likely depress the net indirect taxes (NIT) growth which will result in slower GDP.

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