GST collections in November cross Rs 1.3 lakh Cr, second highest ever
PrintListen to this Article
GST revenues for November this year have been the second highest ever since introduction of GST. The gross GST revenue collected in November this year is 1 lakh 31 thousand 526 crore rupees. For the second straight month Gross GST collection has crossed 1 lakh 30 thousand crore rupees. The revenues for November this year are 25percent higher than the GST revenues in the same month last year and 27 percent over 2019-20.
During the month, revenues from import of goods was 43percent higher as compared to November last year. Revenues from domestic transaction, including import of services are 20percent higher than the same month last year.
Finance Ministry has said that the recent trend of high GST revenues has been a result of various policy and administrative measures that have been taken in the past to improve compliance. It added that a large number of initiatives undertaken in the last one year like enhancement of system capacity, nudging non-filers after last date of filing of returns, auto-population of returns, blocking of e-way bills and passing of input tax credit for non-filers has led to consistent improvement in filing of returns.
Category : GST | Comments : 0 | Hits : 1184
TEST
Dear Taxpayers, 1. GSTN is pleased to inform that an enhanced version of the GST portal would be launched on 3rd May 2024. The effort is to improve user experience and ensure that the information you need is accessible and easy to navigate. 2. Key Enhancements Include (PDF with screenshots attached): i. News and Updates Section: We have introduced a dedicated tab for all news and updates. This section now includes a bet...
The Supreme Court on Friday issued notices to the central government, the Central Board of Indirect Taxes and Customs (CBIC), the Goods and Services (GST) Council and the National Anti-Profiteering Authority (its functions have been taken over by the Competition Commission of India) on a petition challenging a Delhi High Court verdict, upholding the constitutional validity of anti-profiteering provisions filed by a real estate company. The petition, filed by Swati Realty, says the high court ...
The delectable Malabar Parota will taste even better with the Kerala High Court ruling that the popular flatbread will attract GST at 5 per cent and not 18 per cent. With this the court has turned down order by the State’s Authority of Advance Ruling (AAR) and Appellate Authority for Advance Ruling (AAAR). Disposing a petition by Kochi-based Modern Food Enterprises, a single judge bench of Justice Dinesh Kumar Singh said if key inputs (cereals, flour, starch, etc) and preparations are s...
A businessman from Delhi was taken into custody by the Noida police for his alleged involvement in a massive Rs 15,000 crore GST fraud that was exposed last year, TOI reported. Tushar Gupta, aged 39 and residing in Tilak Nagar, was arrested as the 33rd suspect in this case. The police revealed that Gupta had exploited input tax credit (ITC) using 35 fake companies, resulting in a loss of Rs 24 crore to the exchequer over the past two years. He was reportedly part of a syndicate that utiliz...
Comments