GST collection report for November 2024 revealed a revenue of ₹1.82 lakh crore. Advisory released on the GST E-Invoice glossary and guide. Top GST News for the month of November 2024 November 2024 has been a dynamic month for GST updates in India, with significant updates shaping the compl...
The facts reveal that India has observed a tremendous increase in tax base vis-à-vis revenue collection. Yet, some efforts are desired to improve the low tax to GDP ratio, skewed GST payers base, negative stakeholders’ perception of GST (revealed through Twitter sentiment analysis), and the...
GST revenue collection for April 2024 is the highest ever recorded, with a total of Rs 2.10 lakh crore. Read PDF 26th April 2024 GSTN has announced an enhanced version of the GST portal that will be launched on 3rd May 2024. The new version aims to improve user experience and ensure eas...
Union Territory Goods and Services Tax (UTGST) applies in Union Territories and ensures the collection of revenue for Union Territories in India. 5. Cess Cess, on the other hand, is an additional tax imposed to fund specific government initiatives. Depending on the objectives, Cess can be eith...
What is GST HSN Code in India? GST HSN Code Example and Format HSN Code List with GST Rates: Chapter-Wise Distribution of Commodities. Why is the GST HSN Code Important? Who Should Use the GST HSN Code? How Can Businesses Implement HSN Codes in their Process? Conclusion Frequently Asked...
You can get details about the GST revenue and other latest GST news and updates here: Top GST News of the Month. The GSTN released multiple circulars and advisories for taxpayers simplifying GST related issues. We have covered their summaries for your reference here: Summary of GST Circular ...
A STUDY ON COLLECTION, COMPOSITION AND BUSINESS-WISE CONTRIBUTION OF GST IN INDIADr R Ravikumar
In filing GSTR-1 and GSTR-3B returns, the State Code categorises transactions by state or union territory. This classification is vital for determining state-wise tax liability and revenue distribution among states, ensuring adherence to destination-based taxation. What is the GST Jurisdiction? GST...
Imported Goods: Revenue from goods imports also saw a notable increase, rising by 8.5%. State-wise Breakdown Overall Collection Analysis: After accounting for refunds, February’s GST collection amounted to ₹1.51 lakh crore, indicating a substantial 13.6% growth from the previous year. State Var...
The software is developed by SAG Infotech and it is one of the most popular accounting and GST filing software in India. The Gen GST v2.0 provides many features for Billing, Returns Filing & e-waybill activities and it also provides new features of Industry wise bill setup where user can ...