GST collection
GST Collection in January
The GST collection has been increasing in recent times. The three main reasons for the hike in GST collection are decisions made by GST Council, changes made in tax collection, and rising inflation. The highest GST Collection was achieved in ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
India’s Direct Tax Collection Records Steady Growth in FY2023
According to government data, the country’s gross direct tax collection of the current fiscal year (FY2023) till January 10 went up 24.58% to Rs 14.71 lakh crore, against the gross collections made in the corresponding period the previous fiscal. The ..
Month: Current Affairs - January, 2023
Category: Economy & Banking Current Affairs
GST revenue up 28% year-on-year in August
The Gross GST Revenue collected in the month of August 2022 is ₹ 1,43,612 crore which is 28% higher than the GST revenue of ₹ 1,12,020 crore in the corresponding month of the previous year. Highlights During the month, revenue ..
Month: Current Affairs - August, 2022
Category: Economy & Banking Current Affairs
GST Collections November 2021
The GST revenue for the month of November 2021 was Rs 1,31,526 crores. This is the second highest collection since the introduction of GST in the country. The first highest collection was in April 2021. GST Collections The CGST was ..
Month: Current Affairs - December, 2021
Finance Ministry’s Monthly Economic Review
The Ministry of Finance recently released its “Monthly Economic Review for September 2021”. According to the report, Indian economy is on path of swift recovery from the impact of Covid-19 pandemic. Key Findings As per economic review report, sustained & ..
Month: Current Affairs - October, 2021
GST Compensation: Rs 6,000 crores tranfered to 16 states
On October 23, 2020, the Government of India transferred Rs 6000 crores to 16 states and two union territories as the first tranche. The interest rate has been fixed at 5.19 %. Key highlights Over 21 states had opted for ..
Month: Current Affairs - October, 2020
Finance Minister Nirmala Sitaraman chairs 43rd GST Council Meet
On October 12, 2020, the Finance Minister Nirmala Sitaraman chaired 43rd GST Council Meet. The council for the third time discussed the issue of revenue shortfall of states. Before the meet, the minister announced a slew of economic measures to ..
Month: Current Affairs - October, 2020
42nd GST Council Meet held
On October 5, 2020, Finance Minister Smt Nirmala Sitaraman chaired the 42nd GST Council Meet. Key Highlights The GST Council could not finalize borrowing plans of states to meet the compensation short fall after eight hours of meet. 18% of ..