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GST COLLECTION SHORTFALL
Indirect tax mop-up tops FY26 target, but pan masala cess misses the markIndia's indirect tax collections for fiscal year 2025-26 have surpassed the government's target. Customs, excise, and GST revenues showed s...- GST collection sparkles despite wholesale cuts; Govt foresees marginal shortfall from budget estimates, upbeat about Oct numbersIndia's goods and services tax collections are strong even after recent rate cuts. This gives the government confidence in meeting budget e...
- FY'22 GST compensation shortfall estimated at Rs 2.69 lakh croreThe Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to co...
- States may face Rs 3 lakh crore GST compensation shortfall in FY22: ReportIn FY21, the states were facing a shortfall of Rs 1.1 lakh crore in GST compensation from the Centre but over 90 per cent of that amount ha...
- Government releases full Rs 1.1 lakh crore to states for GST compensation shortfallRatings agency ICRA estimated that GST compensation requirement of the state governments for FY2022 would be at Rs 2.7-3.0 lakh crore, and ...
- Welcome Centre's decision to borrow Rs 1.1 lakh crore to fill states' GST gap: Chidambaram"If the centre has decided to borrow the Rs 1.1 lakh crore and extend it to the states as back-to-loans, I welcome the change of position. ...
- 42nd GST Council meeting: More clashes, or finally a consensus?While 21 states that are either ruled by the BJP or those that have supported it have chosen the option to borrow Rs 97,000 crore, others l...
- Kerala rejects Centre's proposal of borrowing by states to meet GST revenue shortfallThe Centre and opposition-ruled states like Punjab, Kerala, Delhi and West Bengal, are at loggerheads over the financing of the Rs 2.35 lak...
- GST Council to discuss Attorney General's opinion on compensation: FM SitharamanUnder the GST structure, taxes are levied under 5 per cent, 12 per cent, 18 per cent and 28 per cent slabs. On top of the highest tax slab,...
- States may have to borrow as AG says Centre not obligated to pay for GST compensation shortfallSources said the AG in his view has said there is no obligation on the central government to pay the GST compensation shortfall from its co...
- Auto sector slowdown affecting GST compensation cess kitty: Sushil ModiSushil Modi, who heads the Group of Ministers (GoM) on GST revenue shortfall, said that the economic slowdown, particularly the muted sales...
- ITC may feel the heat as GST shortfall could lead to higher taxes on tobaccoCLSA said state governments’ tax revenue, including GST, grew just 1 per cent in April-August 2019 from a year ago period compared to the b...
- Direct tax mop-up may fall short of Rs 50,000 crore in FY'19, says officialThe target for GST collection was revised downwards to Rs 6.44 lakh crore from the Budget Estimate of Rs 7.44 lakh crore.
- Off-Budget financing to rescue Modi government once again?Top sources indicate that the government could very well be staring at a revenue shortfall of close to Rs 1.5 lakh crore rupees on account ...
- GoM on revenue shortfall to study GST collection on services by statesThe panel has been formed by the GST Council to look into revenue shortfall being faced by the states post implementation of the Goods and ...
- Sushil Modi to head GoM on GST revenue shortfall faced by statesAmong the union territories, Puducherry is facing maximum shortfall of 43 per cent.
- GST Council focuses on missing collection target every monthFinance minister Arun Jaitley said states faced an average 16% shortfall in GST collections in the year ended March 2018, after it was impl...
- Revenue collected under GST in Oct at Rs 95k crore: Sushil ModiIn rupee terms, the revenue shortfall of all states has come down from Rs 12,208 crore in August to Rs 7,560 crore in October, he said.
- GST collections in line with projections, no shortfall: CBECThe Chairperson of Central Board of Excise and Customs said it was difficult to access the target as exporters would take refund and there ...
- Post-GST, tax collection in Goa drops 22%State Commercial Taxes Department, which keeps a record of tax collection, said the drop is not expected to continue in the future.
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