Amid the rising fuel prices, a message has gone viral with the claim that the Central government levies only 5 per cent tax on an LPG cylinder whereas the state charges 55 per cent. Showing a price break-up, the viral post on social media obliquely claims that state government taxes are the main reason behind the whopping price of LPG in the… Continue reading "Fact check on LPG cylinder price"
Amid outcry over high taxes on petrol and diesel, Finance Minister Nirmala Sitharaman on Tuesday said she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council. State levies and central excise duty account for more than half of the retail… Continue reading "Ready to discuss about including fuel price in GST: Finance Minister"
The Ministry of Finance, Department of Expenditure has released the 16th weekly instalment of Rs.5,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of Rs.4,597.16 crore has been released to 23 States and an amount of Rs.402.84 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu &… Continue reading "16th Instalment of Rs.5,000 crore released to the States to meet the GST compensation shortfall."
The gross GST revenue collected in the month of January 2021till 6PM on 31.01.2021 is ₹ 1,19,847 crore of which CGST is ₹ 21,923 crore, SGST is ₹ 29,014 crore, IGST is ₹ 60,288 crore (including ₹ 27,424 crore collected on import of goods) and Cess is ₹ 8,622 crore (including ₹ 883crore collected on import of goods). The total number of GSTR-3B Returns filed for the month… Continue reading "GST Revenue collection for January 2021 almost touches ₹1.20 lakh crore"