Finance Minister Nirmala Sitharaman on Tuesday informed the Rajya Sabha that indirect tax under the Goods and Services Tax (GST) has significantly reduced over the years since its implementation.
Goods and Services Tax (GST) collections in January, in gross terms, were at Rs 1.95 lakh crore, with a yearly jump of 12.3 per cent, according to data from the finance ministry released Saturday.
Ahead of the Union Budget presentation, Congress MP Jairam Ramesh said on Saturday the most important thing is that fundamental reforms are needed in Goods and Services Tax (GST).
In a landmark meeting, they passed a unanimous resolution urging the Group of Ministers (GoM) to abandon its proposal to modify Goods and Services Tax (GST) rates in the garment sector and retain the existing structure of 5 per cent and 12 per cent.
Goods and Services Tax (GST) collections in December, in gross terms, were at Rs 1.76 lakh crore, with a yearly jump of 7.3 per cent, according to data from the finance ministry released on Wednesday.
Congress leader Ranjeet Ranjan on Tuesday slammed the government over the move to have three different GST rates on popcorn and said people were already reeling under high prices and an effort is being made to divert from real issues.
Congress veteran and Rajya Sabha MP Jairam Ramesh on Sunday took a potshot over the GST Council's clarification on three different GST tax slabs for popcorn.
No major decisions were made during the 55th meeting of the Goods and Services Tax (GST) Council, held in Jaisalmer. The Council postponed key decisions on issues such as rate rationalisation and the determination of tax rates on insurance premiums.
Union Finance Minister Nirmala Sitharaman chairs the 55th meeting of the Goods and Services Tax (GST) Council which is underway in Jaisalmer of Rajasthan on Saturday.
The proposed rationalisation of GST rates on health and life insurance products will be on the agenda for the upcoming Council meeting on Saturday in Jaisalmer, sources said.
The Goods and Services Tax (GST) collections have gone up by 9.3 per cent so far in the current fiscal 2024-25 to Rs 14.56 lakh crore. In the April-November period of last year, the tax mop-up was Rs 13.32 lakh crore.
Congress MP Vijayakumar alias Vijay Vasanth on Monday gave an adjournment motion notice in Lok Sabha and urged discussion of the pressing issue of removal of the Goods and Services Tax (GST) on agricultural products and essential food items.