October's GST collection crosses one lakh crores
Another major achievement that the country has achieved on the economy front before Diwali, in the month of October, revenue of over Rs 1 lakh crore was achieved through GST, Finance Minister Arun Jaitley said, reducing GST rates, preventing tax evasion, Success due to better compliance
In the strong economy of the country, the latest data collected by the GST collection has given it more strength. It is worth noting that in October, the GST collection has crossed one lakh crore and it has happened for the second time since the launch of GST. Experts had expressed the hope that the figure of GST would cross one lakh crore rupees in November, but achieving this success in October is not less than any major achievement. Finance Minister Arun Jaitley said through a tweet on the latest data of GST that - in the month of October, the GST collection has crossed 1 lakh crore. These successes are due to low rates, tax evasion, better compliance, one tax and non-administrative intervention.
It is worth noting that on July 1, 2017, GST was introduced in the country and since then there has been continuous increase in indirect taxes in the country. After settlement in October, the central government received Rs 48,954 crore and the states received Rs 52,934 crore. According to the Ministry of Finance, a total of 67.45 lakh GSTR 3B returns were filed for the month of September. In October, the GST collection was Rs 1,0710 crore, against Rs 94,442 crore in the same month of September. In which CGST is 16,464 crores, SGST 22826 crores, IGST 53,419 crores, Cess 8,000 crores.
On Wednesday, the World Bank's Issue of Doing Business Report released on Wednesday gave India 77th rank. India's rankings improved 23 points in a year. The World Bank said in its report that the biggest change in India's economy has come through GST. GST was not included in last year's ranking. GST has made it easy to start the business because it has integrated many application forms to bring together a single general insurance form. The process of registration has accelerated.
Political rhetoric has also accelerated on this latest figure of the World Bank. BJP has reacted on this issue and said that under the leadership of Prime Minister Narendra Modi, India has become the fastest growing economy in the world. Party spokesman Patna said that when the World Bank and Moody's extend the rankings of India, the Congress starts to suffer and India is ahead in the Is-of-Doing business, whereas in the time of Congress, there was ahead of the Doing Corruption.
The government, while issuing a data on the transport system, said that it has improved considerably. The Easy Traffic Index issued by the government shows that 80 percent of travelers believe that environment friendly transportation has improved during the last five years. Issuing this, Union Road and Transport Minister Nitin Gadkari said that the government is focusing on developing public transport. Inaugurating the Smooth Traffic Report 2018, Road Transport Minister Nitin Gadkari said that the Ministry is working to make public transport available on less rent. He said that ethanol, the use of methanol and the power driven vehicle will reduce pollution.
There is a lot of positive news on the front of the country's economy. The atmosphere of Is of Doing business in the country is the result of the steps taken by the central government during the last four years. It is expected that in the coming days, a strong picture of Indian economy will continue to emerge.
In the strong economy of the country, the latest data collected by the GST collection has given it more strength. It is worth noting that in October, the GST collection has crossed one lakh crore and it has happened for the second time since the launch of GST. Experts had expressed the hope that the figure of GST would cross one lakh crore rupees in November, but achieving this success in October is not less than any major achievement. Finance Minister Arun Jaitley said through a tweet on the latest data of GST that - in the month of October, the GST collection has crossed 1 lakh crore. These successes are due to low rates, tax evasion, better compliance, one tax and non-administrative intervention.
It is worth noting that on July 1, 2017, GST was introduced in the country and since then there has been continuous increase in indirect taxes in the country. After settlement in October, the central government received Rs 48,954 crore and the states received Rs 52,934 crore. According to the Ministry of Finance, a total of 67.45 lakh GSTR 3B returns were filed for the month of September. In October, the GST collection was Rs 1,0710 crore, against Rs 94,442 crore in the same month of September. In which CGST is 16,464 crores, SGST 22826 crores, IGST 53,419 crores, Cess 8,000 crores.
On Wednesday, the World Bank's Issue of Doing Business Report released on Wednesday gave India 77th rank. India's rankings improved 23 points in a year. The World Bank said in its report that the biggest change in India's economy has come through GST. GST was not included in last year's ranking. GST has made it easy to start the business because it has integrated many application forms to bring together a single general insurance form. The process of registration has accelerated.
Political rhetoric has also accelerated on this latest figure of the World Bank. BJP has reacted on this issue and said that under the leadership of Prime Minister Narendra Modi, India has become the fastest growing economy in the world. Party spokesman Patna said that when the World Bank and Moody's extend the rankings of India, the Congress starts to suffer and India is ahead in the Is-of-Doing business, whereas in the time of Congress, there was ahead of the Doing Corruption.
The government, while issuing a data on the transport system, said that it has improved considerably. The Easy Traffic Index issued by the government shows that 80 percent of travelers believe that environment friendly transportation has improved during the last five years. Issuing this, Union Road and Transport Minister Nitin Gadkari said that the government is focusing on developing public transport. Inaugurating the Smooth Traffic Report 2018, Road Transport Minister Nitin Gadkari said that the Ministry is working to make public transport available on less rent. He said that ethanol, the use of methanol and the power driven vehicle will reduce pollution.
There is a lot of positive news on the front of the country's economy. The atmosphere of Is of Doing business in the country is the result of the steps taken by the central government during the last four years. It is expected that in the coming days, a strong picture of Indian economy will continue to emerge.
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