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[ad_1] New Delhi: CBIC chairman Sanjay Kumar Agarwal on Wednesday said the growth in October GST collections, which is the second highest ever, is on account of economic activity and not due to show cause notices to online gaming companies. Goods and Services Tax (GST) revenue in October grew 13.4% to over Rs 1.7 lakh crore. GST collection in October is the second highest ever since roll-out on July 1, 2017.In April, the mop-up was highest at Rs 1.87 lakh crore. "The growth in October GST collections was riding on economic activity and not because of notices that was sent (to online gaming companies). Growth has come purely on the economic activity which has taken place in the country," Agarwal said. [ad_2] Source link https://worldnews2023.com/business/gst-kitty-growth-due-to-eco-activity-cbic-times-of-india/?feed_id=274592&_unique_id=65cfce2e603c8

[ad_1] NEW DELHI: The gross Goods and Services Tax ( GST ) revenue collected in June 2023 was ₹1,61,497 crore, 12% higher than in the same month last year, according to data released by the finance ministry on Saturday. Out of the gross GST collected, Central Goods and Services Tax ( CGST ) comprised ₹31,013 crore, State Goods and Services Tax (SGST) ₹38,292 crore, Integrated Goods and Services Tax ( IGST ) ₹80,292 crore (including ₹39,035 crore collected on import of goods) and cess ₹11,900 crore (including ₹1,028 crore collected on import of goods). The government has settled ₹36,224 crore to CGST and ₹30,269 crore to SGST from IGST. The total revenue of Centre and the states in June 2023 after regular settlement is ₹67,237 crore for CGST and ₹68,561 crore for SGST, said a finance ministry statement. During the month, revenues from domestic transactions (including import of services) are 18% higher than the revenues from these sources during the same month last year. It is fo...

[ad_1] NEW DELHI: The gross Goods and Services Tax ( GST ) revenue collected in June 2023 was ₹1,61,497 crore, 12% higher than in the same month last year, according to data released by the finance ministry on Saturday. Out of the gross GST collected, Central Goods and Services Tax ( CGST ) comprised ₹31,013 crore, State Goods and Services Tax (SGST) ₹38,292 crore, Integrated Goods and Services Tax ( IGST ) ₹80,292 crore (including ₹39,035 crore collected on import of goods) and cess ₹11,900 crore (including ₹1,028 crore collected on import of goods). The government has settled ₹36,224 crore to CGST and ₹30,269 crore to SGST from IGST. The total revenue of Centre and the states in June 2023 after regular settlement is ₹67,237 crore for CGST and ₹68,561 crore for SGST, said a finance ministry statement. During the month, revenues from domestic transactions (including import of services) are 18% higher than the revenues from these sources during the same month last year. It is fo...