Latest News
-
Big News For F&O Traders! NSE To Launch Derivatives On Nifty Next 50 From April 24; Key Highlights! -
Aadhaar POI, POA Update: How To Submit Your Updated Identity, Address Proof Documents Online? -
Infosys Q4 Profit Surges 30% to Rs 7,969 Crore, Eyes Future Growth -
China Offloads $22.7 Billion in US Treasury Amid Growing Tensions -
7:1 Bonus, Rs 778.75/Sh Dividend In 20 Yrs: Infosys To Offer Massive Rewards, Up Next Rs 28/Sh Payout Soon -
1:1 Bonus, 16.50/Share Dividend: NBFC To Recommend Dividend, Buy For TP Rs 900: Motilal Oswal -
Infosys Q4 Results: Cons PAT Shoots Up 30% YoY To Rs 7,975 Crore; FY25 Guidance Here -
Gold Prices In US: Yellow Metal Rates Propel To Record Highs Amidst Escalating Middle East Tensions -
Tata Motors To Utilise New $1 Billion TN Plant For Jaguar Land Rover Cars -
Closing Bell: Market Erases Early Gains To End Lower; Sensex & Nifty Plummet; HDFC Bank & ICICI Bank Weigh
November, The Lowest Collection Month For GST
As per a statement released by the Ministry of Finance as on 25th December, the government collected a total of Rs. 80,808 crore for November. The results have been the lowest ever since GST was intro
As per a statement released by the Ministry of Finance as on 25th December, the government collected a total of Rs. 80,808 crore for November. The results have been the lowest ever since GST was introduced.
The collection is said to have declined due to the reduction in tax rates on more than 200 items. The Rs. 80,808 crores include Rs. 13,089 crores in CGST, Rs. 18,650 crores in SGST, Rs. 41,270 crores in Integrated Goods and Services Tax (IGST) and Rs. 7,798 crores in Compensation Cess.As per a statement released by the Ministry of Finance as on 25th December, the government collected a total of Rs. 80,808 crore for November. The results have been the lowest ever since GST was introduced.
The collection is said to have declined due to the reduction in tax rates on more than 200 items. The Rs. 80,808 crores include Rs. 13,089 crores in CGST, Rs. 18,650 crores in SGST, Rs. 41,270 crores in Integrated Goods and Services Tax (IGST) and Rs. 7,798 crores in Compensation Cess.
The collections for the various months beginning July 2017 were:
| Month | Collection in Rs. Crores |
|---|---|
| July | 92283 |
| August | 90669 |
| September | 92150 |
| October | 83346 |
| November | 80808 |
Further, Rs 10,348 crore is being transferred from IGST to CGST account and Rs 14,488 crore is being transferred from IGST to SGST account by way of settlement of funds on account of cross utilisation of IGST credit for payment of CGST and SGST, respectively or due to inter-state business to consumer transactions, reported PTI.
Thus, a total amount of Rs 24,836 crore is being transferred from IGST to CGST/SGST account by way of settlement, the statement added.
The total collection of CGST and SGST for December 2017 (up to December 25) is Rs 23,437 crore and Rs 33,138 crore, respectively.
