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GST Benefits in Budget 2023 - Cheer to some | Mint Primer | Mint
North-eastern states have recorded a compounded annual GST revenue growth rate of 27.5% so far since the implementation of the GST as against 14.8% for all states, making them the biggest gainers of the new indirect tax regime. The north-eastern states have been the biggest beneficiaries of the five-year-old goods and services tax (GST) regime, according to the Reserve Bank of India (RBI) report on State Finances. In this video, let us explains how becausebecasue of GST how some states gained but others didn’t.
8 Feb 2023Exporters have already been paid IGST refund of over ₹1.12 tn: CBIC
Central Board of Indirect Taxes & Customs said over 83,500 exporters have been benefited by these refundsOut of about 185,000 exporters, a total of 6,421 exporters, have been identified as risky
1 min read30 Dec 2019Exporters ITC refunds to be processed online from next month
The automatic refund facility is currently available only to those exporters who have paid the IGST while exporting goodsOnce the whole refund process would be automated, the transaction time and cost would come down and there would also be accountability
1 min read14 May 2019Businesses can use IGST credit to settle centre, state tax dues: CBIC
Importers typically pay IGST on goods they bring into the countryIGST is paid on inter-state movement of goods
1 min read26 Apr 2019Govt mops up ₹6.12 lakh crore indirect taxes in April-November
During April-November of the ongoing fiscal, the total net indirect tax collection (inclusive of CGST, IGST and GST-Compensation Cess) is ₹6,12,653.47 crore, Minister of State for Finance Shiv Pratap Shukla said
1 min read4 Jan 2019GST compensation paid to states declines to ₹11,900 cr in Aug-Sept
The government collected a record ₹1,00,710 crore from Goods and Services Tax (GST) in the month of October
1 min read11 Nov 2018IGST, cess relief to exporters extended till March
Govt extends the exemptions granted to export oriented units and software technology parks from payment of IGST and compensation cess on imports by 6 months
1 min read26 Sep 2018Amending the GST law: Let the numbers speak
The GST Council should simplify the structure of the IGST and truly zero rate exports, as well as reduce the compensation cess if the Compensation Fund continues to record surpluses after the recent rate decreases
8 min read30 Jul 2018Tax dept clears Rs7,000 crore in GST refunds of exporters
Rs14,000 crore of GST refunds of exporters were stuck due to various mismatches, and CBIC has organised a special fortnight to fast track clearances
1 min read9 Jun 2018GST’s noise in fiscal numbers
The revenue projections for the centre for the next fiscal will have to possibly account for some flattening
4 min read25 Jan 2018Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared