Goods and Services Tax (GST) collection in July 2020 was Rs 87,422 crore, Sequentially, it was Rs 92,849 crore in June this year.
As long as it is not clear which slabs will be merged, it cannot be ascertained whether consumers will gain or lose.
A three-rate structure is very important and there is also a need to fix inverted duty structure as far as the GST is concerned, K V Subramanian said
Reasons for the increase in the tax collections include the revival of economic activities and positive sentiments among taxpayers.
Besides recognising the contribution of the taxpayer, the government should also reward them.
SBI report shows that cut in taxes in FY20 has contributed 19% to the top line of sample sectors during the pandemic
GST is payable only on the margin between the selling price and purchasing price. This ruling would reduce the GST on resale of second-hand jewellery
Both Centre and the states are overly dependent on petroleum taxes. They may not ease their grip on them
This release is in addition to normal GST compensation being released every 2 months out of actual cess collection
Replacing cess and other taxes that existed earlier, you pay one GST rate on your health and motor insurance premium