Tamil Nadu has recorded the lowest GST revenue growth among industrial states in the last financial year. Data released by the GST website shows the state’s growth at 5.48%, was significantly lower than the national average of 7.17%. GST revenue includes central GST, state…
As per convention, the government releases GST revenue collection number on the basis of cash collection in a particular month. However, with the situation arising out of COVID-19, the government has decided to wait till the extended deadline. New Delhi: The government on Friday deferred the…
Goods and Services Tax (GST) collections may likely witness a slow or even negative growth rate for at least six months from March due to the impact on Covid-19 on manufacture, business and consumption. An analysis of different scenarios reveal that GST revenue for…
Month's GST collections for Andhra Pradesh, West Bengal, Assam crashed due to coronavirus-induced lockdown; Centre's net April collections may drop from Rs 1 lakh crore to between Rs 45,000-55,000 crore Early bird numbers suggest coronavirus-afflicted lockdown has slashed April GST revenue of states such as…
The government managed to rake in just over Rs 18,000 crore through integrated GST (IGST) on imports in March, the lowest since the new tax regime kicked in 30 months ago, indicating that collections in the coming months are expected to be weaker, putting additional…