
End of GST compensation to hit 6 states hard: RBI
The RBI says during the five-year transition period, the top five GST compensation-receiving states were Maharashtra, Karnataka, Gujarat, Tamil Nadu, and Punjab.
The RBI says during the five-year transition period, the top five GST compensation-receiving states were Maharashtra, Karnataka, Gujarat, Tamil Nadu, and Punjab.
The monthly GST revenue collection has crossed the ₹1.4 lakh crore mark for the tenth month in a row.
The biggest impetus to revenue growth will come from aggregate state GST collections.
The decision to tax pre-packaged and labelled food items was taken unanimously by the GST Council, says Nirmala Sitharaman
With stagnated "own tax revenue", states face double whammy as GST compensation on which they continued capex push had ended and Centre's tax collection is set to dip in FY23.
The Centre says this decision has been taken despite the fact that only about ₹25,000 crore is available in the GST Compensation Fund.
The data available so far does not instil confidence with respect to GST achieving or is on course to achieve its key objectives, says India Ratings & Research.
A bench, headed by Justice DY Chandrachud, held that the parliament and state legislatures have simultaneous powers to legislate on Goods and Service Tax (GST).
The gross GST collection in March is all-time high, breaching earlier record of ₹1,40,986 crore collected in the month of January 2022.
Calling the plea as 'misconceived', the apex court enhanced the fine imposed by the High Court against Telangana state's GST officer.