Latest news with #StateGST
The Print
02-07-2025
- Business
- The Print
Gross GST collections rise 6.2 pc to over Rs 1.84 lakh cr in Jun
In May, the Goods and Services Tax (GST) collection was Rs 2.01 lakh crore. It touched a record high of Rs 2.37 lakh crore in April this year. Gross GST collections stood at Rs 1,73,813 crore a year ago, as per government data released on Tuesday. New Delhi, Jul 1 (PTI) Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June but slipped below the Rs 2 lakh crore mark recorded in the previous two months. In June, gross revenues from domestic transactions rose 4.6 per cent to about Rs 1.38 lakh crore, while GST revenue from imports grew 11.4 per cent to Rs 45,690 crore. The gross Central GST revenues stood at Rs 34,558 crore, State GST revenues at Rs 43,268 crore and Integrated GST at about Rs 93,280 lakh crore in June. Revenues from Cess were Rs 13,491 crore. Meanwhile, total refunds during the month rose by 28.4 per cent to Rs 25,491 crore. The net GST mop-up stood at about Rs 1.59 lakh crore, registering a 3.3 per cent year-on-year growth. Looking at the numbers on a month-on-month basis, the net GST collections of June this year have shown a reduction of 8.48 per cent, with collections from the domestic market and imports showing a fall, Karthik Mani, Partner, Indirect Tax, BDO India, said. Coming on the 8th anniversary of the introduction of GST, it is hoped that such muted growth in collection on a year-on-year basis is just an aberration and GST collections would be back to the usual growth trajectory in the coming months, he added. While large states like Maharashtra, West Bengal, Karnataka, Rajasthan, and Tamil Nadu have reported collection increases of 4 to 8 per cent, other states like Uttar Pradesh, Punjab and Gujarat reported contraction between 1 and 4 per cent. Some states like Haryana, Bihar and Jharkhand have shown median increases of 10 per cent. According to Vivek Jalan, Partner, Tax Connect Advisory, after two successive months of Rs 2 lakh crore plus GST revenues and double-digit growth, Rs 1.85 lakh crore collections in June 2025 seem a little dampening. However, the YTD growth of 11.8 per cent in GST still gives a tax buoyancy of more than 1 per cent, which means that India is still in the 'Goldilocks situation' amid global turmoil, Jalan added. PTI DP DP BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
01-07-2025
- Business
- The Print
Gross GST collections rise 6.2 pc to over Rs 1.84 lakh cr in June
During the last month, the Goods and Services Tax (GST) collection was Rs 2.01 lakh crore. Gross GST collections during the same month a year ago was Rs 1,73,813 crore. New Delhi, Jul 1 (PTI) Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June, as per government data released on Tuesday. The GST collection touched a record high of Rs 2.37 lakh crore in April this year. In June, gross revenues from domestic transactions rose 4.6 per cent to about Rs 1.38 lakh crore, while GST revenue from imports grew 11.4 per cent to Rs 45,690 crore. The gross Central GST revenues stood at Rs 34,558 crore, State GST revenues at Rs 43,268 crore and Integrated GST at about Rs 93,280 lakh crore in June. Revenues from Cess was at Rs 13,491 crore. Meanwhile, total refunds during the month rose by 28.4 per cent to Rs 25,491 crore. Net GST mop-up stood at about Rs 1.59 lakh crore, registering a 3.3 per cent year-on-year growth. PTI DP HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
&w=3840&q=100)
Business Standard
01-07-2025
- Business
- Business Standard
June GST collection up 6.2% YoY to ₹1.85 trillion, but dips from May, April
The Goods and Services Tax (GST) collection in June came in at ₹1.85 trillion, reflecting a 6.2 per cent year-on-year (y-o-y) rise, according to government data. However, the June collections marked a decline when compared to the previous month. In May 2025, the Centre collected ₹2.01 trillion, while April witnessed a record-high GST revenue of ₹2.37 trillion. According to official data, domestic transactions contributed approximately ₹1.38 trillion in gross revenue in June, marking a 4.6 per cent increase over the same period last year. Revenue generated from imports also saw an upswing, growing by 11.4 per cent to reach ₹45,690 crore. Breakdown: Central GST (CGST): ₹34,558 crore, State GST (SGST): ₹43,268 crore Integrated GST (IGST): ₹93,280 crore. Revenue from cess: ₹13,491 crore Meanwhile, total refunds issued during the month rose significantly—by 28.4 per cent y-o-y—to ₹25,491 crore, reported PTI. The net GST revenue after refunds was approximately ₹1.59 trillion, representing a 3.3 per cent increase compared to June last year. Reacting to GST collections, Pratik Jain, partner PwC said that it indicates a softening of demand and cautious outlook. 'Around 6 per cent growth in GST collections, coupled with less than 4 per cent growth in advance tax collection for first quarter of FY 26 does indicate softening of demand and cautious outlook. One of the reasons could be conservative spending by the consumers which may improve in next couple of months with overall geopolitical situation improving," Jain said.
&w=3840&q=100)
Business Standard
07-06-2025
- Business
- Business Standard
UP CM directs officials to take action against fake, shell companies
Uttar Pradesh Chief Minister Yogi Adityanath on Saturday directed officials to take action against shell companies to stop the attempts to misuse the facilities meant for genuine traders. While conducting a high-level review of the State Tax Department, the CM directed officials to ensure transparency in tax collection and adopt a policy of technological efficiency and strict enforcement. "Tax evasion is a national crime that negatively impacts development plans and welfare schemes," he said. Stressing that the Goods and Services Tax (GST) is a consumer-based tax system, he noted that areas with higher population density are naturally expected to generate more tax revenue. He instructed officials to develop special strategies for zones where tax collection is below average. Adityanath directed that information on suspicious firms registered under Central GST (CGST) be shared with the Centre for cancellation of their registration. For firms under State GST (SGST), he ordered in-depth departmental investigations, and if irregularities are found, their registration should be canceled and FIRs lodged. The CM emphasised the need for on-site inspection of all newly registered firms, stating "fake companies should not be allowed to obstruct the rights of honest taxpayers. CM Adityanath said that such acts are an attempt to misuse the facilities meant for genuine traders, which is unforgivable. Such inspections are essential to ensure that genuine businesses can operate fairly and without interference," he said. During the meeting, officials informed the CM that Rs 18,161.59 crore in GST and VAT had been collected during April and May against the financial year 2025-26 target of Rs 1,75,725 crore.
Indian Express
01-06-2025
- Business
- Indian Express
GST to staircase rules, Dharavi project seeks many exemptions
From tax exemptions to waivers on charges for any deficiencies in staircase and open space rules, the Dharavi redevelopment project has sought several key exemptions that are pending government approval. These, along with other issues awaiting clearance, were flagged in a presentation by the Navbharat Mega Developers Private Limited (NMDPL) — the special purpose vehicle (SPV) set up through a joint venture between Adani Properties Private Limited (80%) and the state government's Slum Rehabilitation Authority (20%) to execute the redevelopment project – during a high-level review meeting chaired by Chief Minister Devendra Fadnavis on May 28 at which the project master plan was cleared. When contacted, a senior official with the housing department said while these pending issues are yet to be cleared by various departments, they are not a part of the master plan. 'The pending issues raised are important for the project, and the respective departments will follow procedures and take a final decision,' the official said. According to NMDPL, these pending approvals are required to unlock land, complete legal formalities, reduce upfront costs, and proceed with housing and infrastructure components of the plan. These include land transfers, waivers on tax and staircase/ open space premium, regulatory relaxations that would help NMDPL carry out the redevelopment, rehabilitate slum dwellers and utilise the land parcels — including Kurla Dairy land, Jamasp Salt Pan in Mulund, Aksa and Malvani, Deonar, and Arthur & Jenkins Salt Works — that have been allocated for rehabilitation of ineligible residents of Dharavi. While the master plan envisages construction of 58,532 residential units and 13,468 commercial and industrial units on 116.6 acres of the existing Dharavi area for the rehabilitation of eligible residents, the NMDPL will utilise around 541 acres of land allotted to it across the city (outside of Dharavi) for construction of rental housing for ineligible residents. Besides, another 118.4 acres inside Dharavi, of the gross area of 620 acres, have been earmarked for commercial development. The developer has flagged at least eight key issues awaiting government approval — across departments including housing, urban development, revenue and finance — and requested that the decisions be finalised by July to maintain project momentum. The project is scheduled to be completed by 2032. NMDPL has requested final notification for reimbursement of State GST (SGST) paid on construction for 15 years in rehabilitation and 5 years in commercial units. This will help it to avail Input Tax Credit on the construction of rehabilitation as well as commercial units. The proposal asks the state to consider the functions of the redevelopment project under Article 243W of the Constitution, enabling exemption from 18% GST on 'pure services' like consultancy, project management and design (fees). A Government Resolution waiving or capping charges on the developer for staircase and open space deficiencies is pending with the Urban Development Department since January this year. These premiums or charges are applied when buildings/ projects have less open space or staircase area than required by rules. Waiving or reducing these charges would help lower the overall project cost. The developer has sought approval to use 35% fungible floor space index (FSI) to increase the size of renewal tenements (units inside Dharavi) beyond the standard 405 sq ft. As housing societies demand more than the minimum 405 sq ft, the SPV proposes using 35% fungible FSI to accommodate additional area, subject to viability. A proposal on this was sent in March this year. 'By letter dated 23.10.2023 and 18.06.2024, housing department was asked to provide clarity (on the carpet area of renewal tenements),' the NMDPL has said. So far, meetings have been held with the 18 housing societies inside Dharavi, and the developer has said the residents have been demanding a higher carpet area. As per regulations, the minimum carpet area is 405 sq ft. The NMDPL has sought sub-leasing rights to transfer developed units on 21 acres of Kurla Dairy land to societies/ end users. It has said that implementation of the project on land given via government resolutions of the revenue and forest departments cannot be undertaken without such sub-lease. Although a government resolution for allocation of 140 acres in Aksa and Malvani areas was issued in October 2024 and measurement was completed in January 2025, the NMDPL has said the Collector has not issued a payment demand notice, halting the possession of land. The NMDPL has said the demarcation of core Dharavi land by the superintendent of land records has been pending for over nine months even as reminders were sent in April and May. It points out that the process is critical for plotting, layout design, and planning approvals. The NMDPL has requested a waiver of stamp duty charges on long-term land leases, particularly those with central agencies like Railways, as government projects may be exempted from stamp duty under certain rules. Meanwhile, Rajendra Korde, president of the Dharavi Residents Association, said the number of new units being constructed was far lower than the number of existing units. He said surveys should first be conducted properly and every tenant should be considered eligible. Korde also demanded that the project master plan should be made public, and suggestions/ objections should be taken from the residents. According to the eligibility criteria for the redevelopment project, ground-floor residents who settled in Dharavi before January 1, 2000, can get a 350 sq ft house within Dharavi free of cost; those who settled between January 1, 2000, and January 1, 2011, can get a 300 sq ft house outside Dharavi for Rs 2.5 lakh under the Pradhan Mantri Awas Yojana (PMAY). Residents of upper-floor structures built before November 15, 2022, and ground-floor structures built between January 1, 2011, and November 15, 2022, will be offered rental accommodation outside Dharavi. They can also opt for a 'hire-purchase' scheme for 300 sq ft houses.
