Monthly GST Revenue Of Rs 1.50 Lakh Crore To Be New Normal: Indirect Taxes Board

Vivek Johri said the GST and Customs revenue collection numbers as given in Budget 2023-24 are realistic based on nominal GDP growth and import trends.

Ahead of the presentation of the Union Budget for fiscal 2023-24, on Wednesday, Chattisgarh Chief Minister Bhupesh Baghel said locals have put forward a demand for new trains in Jagadalpur and Surguja areas.

The GST collection in January surged to over Rs 1.55 lakh crore, the second highest-ever mop-up, the finance ministry said on Tuesday.

Currently, core educational services are exempted from GST but Edtech products such as online courses and classes fall under the 18% GST slab.

The industry leaders have been pleading with the government to levy GST at 18% instead of raising it to 28% for online gaming

The GST Council is the only institution in the country today which is totally federalist, Mr Mitra further argued, saying ministers of 31 states and union territories are part of the council, chaired by the Finance Minister of India.

The budget should outline supportive policies, simplified regulations, and simple GST norms to aid in the development of the pharmaceutical industry, Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain said.

The Agro Chem Federation of India (ACFI) urged the government to bring down the GST on crop protection chemicals to 5 per cent at par with fertilisers.

Congress leader Rahul Gandhi today said Ludhiana's small and medium businesses can compete with China if they are given adequate support even as he attacked the Punjab government and the Centre for not supporting them.

Congress leader Rahul Gandhi on Friday launched a scathing attack on the BJP-led government at the Centre over a host of issues, including the Agnipath scheme and GST.

A Delhi Court has granted bail to an accused allegedly involved in wrongfully passing input credit of GST amounting to Rs 19 crores.

GST revenues rose by 15 per cent in December 2022 to over Rs 1.49 lakh crore, the Finance Ministry said on Sunday.

From January 1, GST would not be payable on housing units rented to the proprietor of a proprietary concern for residential usage only, the CBIC has said.

"Where confirmed government dues stand reduced as per IBC order then the GST department shall only recover such reduced dues by following the prescribed procedure," EY Tax Partner Saurabh Agarwal said, adding industry stands benefited by this circular.