Latest News
-
Okay Play India Posts 12.79% Revenue Growth In Q4 After 1:10 Stock Split Approval -
Highest Rs 70/Sh Dividend; Tata's IT Stock Falls After Q4; Rs 5,400/TP By Kotak, Brokerages Give Underweight -
Tesla Layoffs: CEO Elon Musk Fires Entire 4-Month Old US 'Growth Team'; Q1 Profit Slumps -
Axis Bank Q4 Results Preview: Profitability Likely To Drop Led By Higher Opex; Asset Quality May Remain Stable -
HUL Q4 Results Preview: Price Cuts Likely To Impact Topline Growth, Shares Gain 1.88% In 1-Week -
1:2 Split Soon: Tata's 79-Year-Old Auto Giant Rises 3,013% Before Splitting; Target Prices Rs 1,300-1,500 -
Trade Setup: Mixed Results From HDFC Bank, RIL Stall Nifty Momentum; Global Economic Data In Focus -
Rs 5/Share Dividend: Record Date On 13th June; Buy The Auto Stock? -
Stock Market Live Updates: Indian Market Surges A Little; Sensex Trades 250 Pts Green, Nifty Floats At 22,435 -
IRCTC vs Cochin Shipyard: Which PSU Stock Has Higher Upside Potential? Sumeet Bagadia Answers
GST Collections Has Generated Whopping Rs 7.41 Lakh Crore In Fiscal 2018
The Goods and Services Tax (GST), which was implemented across the country during last year has generated a whopping Rs 7.41 lakh crore during 2017-2018, according to the Finance Ministry.
The Goods and Services Tax (GST), which was implemented across the country during last year has generated a whopping Rs 7.41 lakh crore during 2017-2018, according to the Finance Ministry, reports PTI.
The central government had rolled out GST on July 1, 2017.
"During the year 2017-2018, the total revenue collections under GST in the period between August 2017 and March 2018 has been Rs 7.19 lakh crore. Including the collection of July 2017, the total GST collections during the 2017-2018 stand provisionally at Rs 7.41 lakh crore," the Finance Ministry said in a tweet.
"This includes Rs 1.19 lakh crore of CGST, Rs 1.72 lakh crore of SGST, and Rs 3.66 lakh crore of IGST (including Rs 1.73 lakh crore on imports) and Rs 62,021 crore of cess (including Rs 5,702 crore on imports)," it said.
The average monthly collection has been Rs 89,885 crore during the August-March period, it said.
For a period of eight months, the total compensation released to the states during 2017-2018, stands at Rs 41,147 crore so as to ensure, that the revenue of the states is protected at the level of 14 percent over the base tax collection during 2015-2016.
It further added that the revenue gap of each state is coming down over the last eight months and the average revenue gap between all the states during last year stood at around 17 percent.
