x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   PDP waiting for NC to break alliance | LS polls: PM Modi’s Jammu visit infuses new life in BJP camp | BJP ready to back Baig as independent candidate | Administrative Council approves Start-up Policy 2024-27 for J&K | Govt committed to fulfilling its pledge for farmers’ welfare: PM Modi | BJP ended credibility crisis in politics: Rajnath | LG Sinha conducts on-site inspection, reviews construction work | CBI searches Satya Pal Malik’s premises | Successful rescue operation saves lives | Women safety scheme to continue till 2025-26 | Drone-dropped IED found near IB | Landslide hits construction worker, dies | Avalanche warning issued for 8 districts | DC Bandipora flags-off Rally | Opening of big business outlets in J&K just beginning, more to come in BJP rule: Kavinder | Mission Vatsalya Kulgam hosts Sensitization/ Orientation & Training programme | Shobha Rajput Elected President of District Mountaineering Association | Dr Rashmi Singh addresses public grievances, highlights cultural initiatives | DDC reviews progress of JJM; emphasizes proper monitoring of ongoing works | International Mother Language Day celebrated at Govt GLDM Degree College | Union Minister launches ACB plan for Railways, Communications, Electronics & IT | Govt ready for talks with protesting farmers who are 'Our Brothers', says Anurag Thakur | Normalisation of scores likely to be done away with for CUET-UG, exam rejig underway: UGC Chief | AIIMS Delhi shares WhatsApp number to alert hospital admin about touts | Regulation, short termination, and origination of trains due to traffic block | Pamban railway bridge in Rameswaram to be ready very soon: Railway Board chairperson | Four-day training program on handling various types of Cybercrimes concluded at ZPHQ Jammu | Kaun Hai Tumhara Bowler? Tendulkar plays gully cricket in Kashmir | Night temp drops in Kashmir, Gulmarg at -10.4°C | World trading rules have been gamed: Jaishankar | Five-day crash course on New Criminal Laws commences at PTTI | Comprehensive training initiatives enhance law enforcement capabilities at SKPA | Kashmiri Migrants rally for solutions: Interaction meet highlights community concerns, demands | Crackdown on illegal mining; 02 vhicles seized: Police | Nisith Pramanik flags off women's mountain ski event | Police seized three chemist shops illegally selling H1 drugs | Rescue operation in Gulmarg after avalanche strikes army ridge | Chamber of Commerce delegation advocates for development initiatives | Missing boy reunited with family at Reasi | GDC Sidhra hosts enlightening lecture on voting awareness and rights | Dewan Devi Public School students commemorate Scouts & Guides Foundation Day | GDC Udhampur commemorates International Mother Language Day | GDC Kathua felicitates NSS volunteer Keshav Sambyal | GDC Ramgarh organizes a Traditional Food Exhibition | GDC Khour NSS Unit embarks on beautification drive | ICICI Bank conducts insightful counselling session at GDC Nagrota | Week long activities organized at GDC Ghagwal | ICICI Bank conducts insightful counselling session at GDC Nagrota | Plantation drive flourishes at Govt PG College Rajouri | GGM Science College Jammu faculty releases three groundbreaking books | Lt Governor interacts with 160-member delegation of Pahari Community from Kashmir Division at Srinagar | Smart buses in Jammu | Back Issues  
 
news details
Average monthly GST showing upward trend: Sitharaman
12/4/2023 11:10:24 PM

Agencies

NEW DELHI, Dec 4: The Goods and Services Tax (GST) collection has been showing an upward trend on an annual basis since its roll-out on July 1, 2017, and the average gross monthly mop-up in the current fiscal so far is Rs 1.66 lakh crore, Finance Minister Nirmala Sitharaman said on December 4 (Monday).
In a written reply to a question in the Lok Sabha, she said the GST collection crossed Rs 1.5 lakh crore mark in every month of the current fiscal and had touched a record high of Rs 1.87 lakh crore in April 2023.
“GST collection has been showing an upward trend on year-on-year basis since the implementation of GST w.e.f. 1st July, 2017. The average gross monthly GST collection in FY 2023-24 now stands at Rs 1.66 lakh crore and is 11% more than that in the same period in the previous financial year,” Ms. Sitharaman said.
The average monthly GST collection in 2022-23 was over Rs 1.5 lakh crore, higher than Rs 1.23 lakh crore in 2021-22. In 2020-21, the average monthly mop-up was Rs 94,734 crore.
In reply to a separate question, Minister of State for Finance Pankaj Chaudhary said the monthly average gross GST collection for 2021-22 and 2022-23 have shown 30% and 22% year-on-year growth respectively.
“GST is paid on self-assessment basis and tax administration at Central and State level is empowered to take action against cases where GST is not paid and short paid. Detection of such cases and recovery of taxes not paid or short paid is a continuous process,” Mr. Chaudhary said.
He said the government, on the recommendation of the GST Council, has been bringing several reforms in GST and these measures would improve the GST compliance and increase the GST collection.
These include structural changes such as calibration of GST rates for correcting inverted duty structure and pruning of exemptions; measures for improving tax compliance such as mandating e-way bill, ITC matching, mandating e-invoice, deployment of artificial intelligence and machine-based analytics, Aadhaar authentication for registration, calibrated action on non-filers, stop filers and so on.
Also, system-based analytical tools and system-generated red flag reports are being shared with Central as well as State tax authorities to take action against tax evaders.
In reply to another question, Mr. Chaudhary said the Central government, on the recommendation of GST Council, has constituted State Benches of GST Appellate Tribunal.
Giving details of the number of pending appeals over tax demands raised by Central GST authorities, Mr. Chaudhary said 14,897 appeals are pending as on October 31, 2023. This is higher than 11,899 appeals pending as of March 31, 2023.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU