gst collections Archives

GST revenues rise 15% in December 2022: Finance Ministry

January 1, 2023January 1, 2023cpooldigitalLeave a Comment

Image used for representative purpose only. | Photo Credit: PTI India’s Goods and Services Tax (GST) revenues rose to nearly ₹1.5 lakh crore in December 2022, 2.5% over November’s collections and 15% higher than December 2021. Revenues from import of goods were 8% higher while revenues from domestic transaction (including import of services) were 18% […]

Demonetisation behind the buoyancy in tax collections, says RBI MPC member

October 23, 2022October 23, 2022cpooldigitalLeave a Comment

Demonetisation enhanced digitisation and formalization in the economy and reduced tax evasion, said Ashima Goyal Demonetisation enhanced digitisation and formalization in the economy and reduced tax evasion, said Ashima Goyal RBI Monetary Policy Committee (MPC) member Ashima Goyal has attributed the rise in tax collections to demonetisation and said that it will help the nation […]

GST revenues rise 26% amid imports surge

October 1, 2022October 1, 2022cpooldigitalLeave a Comment

This is the seventh successive month that revenues from the indirect tax have remained above ₹1.4 lakh crore This is the seventh successive month that revenues from the indirect tax have remained above ₹1.4 lakh crore India’s gross Goods and Services Tax (GST) collections hit ₹1,47,686 crore in September, 26% higher than a year ago, […]

June’s GST revenues second highest at over ₹1.44 lakh crore

July 1, 2022July 1, 2022cpooldigitalLeave a Comment

Cess inflows hit record; Inflation, low base from second COVID wave abet 56% year-on-year surge in kitty Cess inflows hit record; Inflation, low base from second COVID wave abet 56% year-on-year surge in kitty India recorded its second highest monthly gross GST revenues in June at ₹144,616 crore, 56% more than a year ago when […]

GST collections jumped 44% to almost ₹1.41 lakh crore in May 2022

June 1, 2022June 1, 2022cpooldigitalLeave a Comment

Collections were 44% higher than May 2021, but 15.9% below April’s record kitty Collections were 44% higher than May 2021, but 15.9% below April’s record kitty India’s gross Goods and Services Tax (GST) revenues in May were 44% higher than a year ago at ₹1,40,885 crore, with receipts from domestic transactions and services imports rising […]