SBI report shows that cut in taxes in FY20 has contributed 19% to the top line of sample sectors during the pandemic
GST is payable only on the margin between the selling price and purchasing price. This ruling would reduce the GST on resale of second-hand jewellery
Both Centre and the states are overly dependent on petroleum taxes. They may not ease their grip on them
This release is in addition to normal GST compensation being released every 2 months out of actual cess collection
Replacing cess and other taxes that existed earlier, you pay one GST rate on your health and motor insurance premium
One of the key factors that have aided in increased GST revenue collection lately and enhanced tax administration is utilisation of technology
At Rs 92,849 crore, the goods and services tax (GST) collection is the lowest in 10 months since August 2020
The GST revenues for the month of June 2021 are 2% higher than Rs 90,917 crore collected in June 2020.
GST revenues have crossed Rs 1 lakh crore mark with a record GST revenue collection of Rs 1.41 lakh crore in April 2021.
GST has replaced the complex indirect tax structure with a simple, transparent, and technology-driven tax regime.