Subramanian said, "I think, going by the signs so far, in about 1.5-2 years, we can expect to touch two lakh crores rupees in a month. I think the GST collection doing well is part of the overall phenomenon of good policy that has been implemented. So overall, I think the good performance
Good and Services Tax (GST) Revenue collection for November 2023 stands at Rs 1,67,929 lakh crore recording the highest growth rate of 15 per cent Year-on-Year, an official statement issued by the Ministry of Finance said on Friday.
The Punjab Vigilance Bureau apprehended Sammy Dhiman, an accused who had orchestrated a significant financial loss to the government, amounting to Rs. 25 crores approximately in Goods and Services Tax (GST) revenue, through the use of fraudulent invoices and fictitious firms.
In her address at the Pratidin Conclave, Sitharaman shed light on the substantial advantages that the northeastern states of India have reaped from the implementation of the Goods and Services Tax (GST).
On the rising GST collections, Kejriwal took the credit and said his government in Delhi has shown "that honest governance leads to increased revenue."
The gross goods and services tax (GST) revenue collection of India in the month of June stood at Rs 1,61,497 crore, 12 per cent higher than the revenue collected in the same month last year, the Ministry of Finance said on Saturday.
"Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance," tweeted PM Modi.
GST revenues for April 2023 are 12 per cent higher than the GST revenues year-on-year. The highest tax collected on a single day ever was Rs 68,228 crore through 9. 8 lakh transactions on April 20, 2023
Goods and Services Tax was introduced in the country with effect from July 1, 2017 and states were assured compensation for loss of any revenue arising on account of the implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a period of five years.