Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: form 3cd :: cpt :: list of goods taxed at 4% :: VAT RATES :: empanelment
GST - Goods and Services Tax »
 What are benefits of GST
 GST: Delhi HC seeks govt's response on plea challenging timeline for input tax credit
 Various laws under Goods and Services Tax (GST)
 GST Accounts Assistant course to provide expertise
  Concept Of Input Service Distributor In GST
 GST one of the most complex, and second highest tax rate in world: World Bank
 Govt not to extend March 31 deadline for selling pre-GST packaged goods
 Concept Of Input Service Distributor In GST
 Why delay fixing GST? Not being able to simplify returns even now unfortunate
 How vehicles will stay on govt’s radar on highways, and on GST e-way bill
 GST council set to finalise e-way bill rollout, easier return filing rules on Saturday

GST Council may lower tax rates if high collections continue
September, 05th 2017

India's maiden GST revenue mop-up got off to a strong start with collection of Rs 92,283 crore in July from just 64.42 per cent of the total taxpayer base.

The all powerful GST Council may consider lowering tax on items of common consumption if the high trajectory of collections continues over the next few months, an official said today.

The first-month collection under the new Goods and Services Tax (GST) regime has been encouraging and if the rising trend continues till December, it would make a case for reduction of tax rate, he said.

The tax reduction could be either on items of common consumption or a cut in headline rate which will benefit consumers, said the official who did not wish to be identified.

The GST Council headed by Finance Minister Arun Jaitley could look at the aspect once the clear trend is available, the official said, adding that it would be evident from the November tax collection.

India's maiden GST revenue mop-up got off to a strong start with the collection of Rs 92,283 crore in July from just 64.42 per cent of the total taxpayer base.

Of this, as much as Rs 14,894 crore has come in from the Central GST (CGST), Rs 22,722 crore from State GST (SGST), Rs 47,469 crore from Integrated GST (IGST) and Rs 7,198 crore from compensation cess levied on demerit and luxury goods.

July was the first month from which a unified Goods and Services Tax (GST) was implemented across the country, replacing more than a dozen central and state levies like excise duty, service tax and VAT.

The collections are likely to go up further when all the tax payers file returns.

The collections were higher than the finance ministry's internal estimate of Rs 91,000 crore.

So far, 38.38 lakh taxpayers, accounting for 64.42 per cent of the total businesses who had registered in July, have filed returns. As per the registration, 59.57 lakh businesses should file return for July.


Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions