The government has lost `7,800 crore in revenue due to tax-related relief measures announced since March 22 — when the…
Even as authorities of advance rulings (AARs) differ on the liability to pay the GST on salaries paid by firms…
However, in March, which is otherwise the busiest month of the financial year, the average e-way bills generated dropped to…
The revenue situation will only get worse next month as the lockdown in the whole of April would be reflected…
State governments seem to have collected the lowest-ever inflation-adjusted monthly tax revenue in April.
Additionally, the revenue department is also considering treating a section of MSMEs under the GST scheme for composition dealers, so…
The situation could persist in April too, hitting May collections. Currently, collections are only a fifth of normal, a state…
The interim report of 15th Finance Commission for FY21 doesn’t provide for extra headroom over and above the mandated fiscal…
The sluggish receipts also imply a fall in direct tax buoyancy to a multi-year low of (-)1 in FY20, a…
Actual combined government deficit — Centre and states — could even reach double digit level next fiscal, frustrating FRBM mandate
Margin scheme is employed in such transactions to avoid double taxation, as the goods, having once borne the incidence of…
If buoyancy doesn’t improve — it likely won’t — growth slump to depress FY21 gross tax by a massive Rs…
Last year, the RBI gave an interim dividend of Rs 28,000 crore to the Centre in March, allowing it to…
The states’ own GST revenues — SGST receipts minus the compensation from the Centre — were short of the aggregate…
Large-scale evasion is suspected as taxpayers seem to have under-reported sales and paid lower taxes in self-declared returns.
As a comprehensive GST rates overhaul may be postponed for a later date — finance minister Nirmala Sitharaman recently said…
Despite slowdown and below-RNR rate structure, a slew of steps by govt help improve collections
An analysis by the GST department showed that as much as 39% or Rs. 2.5 lakh crore of ITC claimed…
