Wait...
  1. Home >
  2. Export Import News >
  3. GST News >
  4. GST collection of states rises to Rs 5.18 lakh crore in FY19 >
  5. GST collection of states rises to Rs 5.18 lakh crore in FY19

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

GST collection of states rises to Rs 5.18 lakh crore in FY19.


Date: 16-07-2019
Subject: GST collection of states rises to Rs 5.18 lakh crore in FY19
GST collection of states and union territories (UTs) increased to Rs 5.18 lakh crore in the full financial year 2018-19, up from Rs 2.91 lakh crore collected in nine months of 2017-18, Finance Minister Nirmala Sitharaman said Monday. Besides, Centre has released Rs 81,177 crore compensation to states during 2018-19, as against Rs 48,178 crore during July-March period of 2017-18 fiscal.

In a written reply to a question in the Lok Sabha, Sitharaman said concerted efforts have been made to improve tax compliance. “The GST collection of the states/UTs has been showing steady improvement over the period of time. In addition, they are also assured a growth of 14 per cent for a period of five years through payment of compensation by the central government,” she said.

The total GST collection of the states/UTs for 2018-19 stood at Rs 5,18,447 crore against GST collection of Rs 2,91,100 crore in 2017-18, she added. “Extensive automation of business processes, application of e-way bill mechanism, targeted action on compliance verification, enforcement based on risk assessment and proposed introduction of electronic invoice system are the steps taken for increasing the revenue collection,” she said.

Goods and Services Tax (GST), which subsumed 17 local taxes, was rolled out from July 1, 2017. The average gross GST collection in 2018-19 fiscal was Rs 98,114 crore, up from Rs 89,885 crore in 2017-18.

Source: financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 10-12-2019
Notification No. 89/2019 – Customs (N.T.)
Appointing the date for enforcing section 88 (b) of the Finance (No. 2) Act, 2019 to bring out the changes in the First Schedule to the Customs Tariff Act, 1975.

Date: 10-12-2019
NOTIFICATION No. 45/2019-Customs (ADD)
Seeks to impose anti-dumping duty on imports of Clear float glass originating in or exported from Pakistan, Saudi Arabia and UAE in pursuance of Final findings of Designated Authority in sunset review of notification No. 48/2014-Customs (ADD) dated 11.12.2014

Date: 06-12-2019
Notification No. 34/2015-2020
Corrigendum to Notification No. 31/2015-2020 dated 13th November, 2019.

Date: 05-12-2019
A.P. (DIR Series) Circular No.11
Exim Bank's Government of India supported Line of Credit (LOC) of USD 500 million to the Government of Bangladesh

Date: 05-12-2019
Notification No.88/2019 - Customs (N.T.)
Exchange Rates Notification No.88/2019-Customs (NT) dated 5.12.2019

Date: 04-12-2019
Notification No. 06/2019 Central Excise (N.T.)
Seeks to extend SVLDRS, 2019 to the mentioned enactments

Date: 02-12-2019
Trade Notice No. 40/2019-20
Imports of Onions

Date: 02-12-2019
Notification No. 33/2015-2020
Amendment in Policy condition No.2 (iii) to Chapter 95 of ITC (HS), 2017- Schedule -1 (Import Policy)

Date: 02-12-2019
Notification No. 87/2019- Customs (N.T.)
Notification of Vizinjham International Seaport and Muthalapozhi u/s 7(d) of the Customs Act for unloading and loading of boulders for breakwater construction.

Date: 29-11-2019
Circular No. 40/2019-Customs
Auto Out of Charge under Express Cargo Clearance System (ECCS) - reg.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001