GST Ready India

GST Ready India’s Latest News and Updates

FSSAI to reclassify food businesses to align with GST

Mar 27, 2018

GST collection falls to Rs 851.74 bn in February; only 69% file returns

GST collections slid for the second straight month to Rs 851.74 billion in February as only 69 per cent of the assessees filed returns.

Around 5.951 million GSTR 3B returns were filed for the month of February till March 25.

This is 69 per cent of total taxpayers who are required to file monthly returns, the finance ministry said in a statement. Click to read more

GST collections in February fall to Rs85,174 crore, only 69% returns filed

GST collections slid for the second straight month to Rs85,174 crore in February as only 69% of the assessees filed returns.

Around 59.51 lakh GSTR 3B returns were filed for February. This is 69% of the total taxpayers who are required to file the monthly returns, the finance ministry said in a statement.

“The total revenue received under GST for the month of February 2018 (received up to 26 March) has been Rs85,174 crore,” said the finance ministry. Click to read more

GST mop-up for February drops marginally MoM to Rs 85,174 cr

Revenue collection from Goods and Services Tax (GST) touched Rs 85,174 cr in February, falling marginally from previous month’s mop-up, data released by the Finance Ministry showed.

The government had collected tax amounting to Rs 86,318 crore in January.According to a tax expert, GST collections are now beginning to stabilise, although the expected revenue garnering may take more time. Click to read more

GST Collections Fall in February After Stabilising For Two Months

The government revenue from the Goods and Services Tax declined in February after remaining stable for the previous two months.

Tax collections for the month fell to Rs 85,174 crore as on March 26, the Finance Ministry said in a statement. That compares with Rs 86,318 crore collected in January and Rs 88,929 crore in December. Collections for December were revised upwards by the government from Rs 86,703 crore. Click to read more

FSSAI to reclassify food businesses to align with GST

Food safety authority FSSAI today said it will reclassify food businesses on the basis of turnover to align with the goods and services tax (GST).

Under the GST regime, implemented from July 1, 2017, businesses with an annual turnover of over Rs 20 lakh are required to pay GST. Click to read more

GST profiteering complaint form simplified: Finance ministry

The Finance Ministry has simplified and reduced the number of columns in the complaint form to make it easier for consumers to report any profiteering activity by businesses post GST rollout.

The number of columns in the simplified single-page form have been slashed to 16, of which 12 fields are mandatory, to make it convenient for people. Click to read more

FinMin simplifies GST anti-profiteering form to make it easier for people

The Finance Ministry has simplified and reduced the number of columns in the complaint form to make it easier for consumers to report any profiteering activity by businesses post GST rollout.

The number of columns in the simplified single-page form have been slashed to 16, of which 12 fields are mandatory, to make it convenient for people. Click to read more

GST and Ecommerce Trigger 45,000Cr Investment in Storage and Warehousing Sector

According to JLL, a global and India’s largest real estate services firm, it is estimated that close to Rs 45,000 crores (Cr) will be invested in creating storage facilities across India from 2018 to 2020. In these three years, different categories of warehousing will also create jobs to the tune of 200,000 at different levels of specifications and specialisations. Warehousing will witness the highest investment; over Rs 35,000 crore in the next three years, mostly in creating storage facilities for retail and consumer goods. Cold Storage and agricultural warehousing will see approximately Rs 7,500 crore. Click to read more

Marginal fall in Feb GST numbers, 85,174 Cr. collected

The total revenue received under Goods and Services Tax (GST) for the month of February 2018 has been Rs. 85,174 crores, the Ministry of Finance said on Tuesday.

This is 69 percent of total taxpayers which are required to file monthly returns.

Meanwhile, Rs. 86,318 crore were collected as GST revenue for January 2108.

1.05 crore taxpayers have been registered under GST so far till 25th March, 2018. Click to read more

Stage set for E-Way Bill from April 1

With less than a week left for the implementation of the much-delayed E-Way Bill across the country, tax officials and businesses seem to be well prepared this time around.

“The IT system is fully geared up for the E-Way Bill. It has been thoroughly checked and can handle a much higher load,” said Prakash Kumar, Chief Executive Officer, GST Network (GSTN), adding that it has also gone through multiple rounds of testing. Click to read more

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