GST Day celebrated in the city
However Mr. Rangarajan citing the country having overcome the implementation stage of the GST, a short list of tax rates with short list of exemptions like Australia would foster easier compliance and enhance ease of doing business. At present the country has four main tax slabs which adds to the complexity of the tax regime as also the need for bringing under GST both the oil and electricity sectors. He also wanted the Central government to go for strategic reform in GST to over one the operational challenges in the age of digital disruptions and new age business models along with operationalising the tribunals.
Ram Niwas, Principal Chief Commissioner of CGST of Tamilnadu and Puducherry zone, said the GST Council has helped in bringing the Central and States together in rationalising the tax regime. While the GST has been successfully implemented one of the serious issues which the officials have come across during audits is the fake input tax credit (ITC) where more than ₹1 lakh crore fake ITC has been detected with hardly 5% recovery done from these fake ITCs. Mr. Niwas also highlighted the need for preventing revenue leakages.
A.R.S. Kumar, Principal Chief Commissioner of CGST and Central Excise of Tamilnadu and Puducherry zone, also spoke on the occasion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
24 minutes ago
- Hans India
AP records highest GST collection in first quarter
Vijayawada: Andhra Pradesh recorded highest net GST collections amounting to 78,860 crore, reflecting a growth of 3.40% in first quarter of financial year. Total tax collections in Q1 (including all sectors) stood at Rs 213,361 crore, compared to Rs 13,096 crore in FY 2024-25, showing a growth of 2.02%, which indicates a sustained and healthy growth trajectory over the same period, according to Commissioner of Commercial Taxes Babu A. For three consecutive months - April, May, and June 2025, the State has recorded the highest-ever net GST collections for each respective month when compared to any previous financial year. This remarkable performance highlights the State's strong economic recovery, effective enforcement actions and the success of targeted policy initiatives aimed at expanding the tax base and enhancing compliance. The steady upward trend in GST collections not only demonstrates the resilience of the State's revenue systems but also the increasing vitality of its commercial and industrial sectors. In June 2025, Andhra Pradesh collected a total tax (all sectors) revenue of Rs 4,167.66 crore, an increase from Rs 3,910.47 crore in June 2024. This reflects a growth of 6.58%. The growth was mainly driven by higher GST collections (Rs 2,598 crore, up from Rs 2,419 crore) and notable gains under VAT on petroleum products and profession tax. The net GST collections for June 2025 stood at Rs 2,591 crore, the highest - ever for the month of June since the implementation of the GST regime in 2017. Compared to June 2024, there was a significant rise in net GST collections, emphasising enhanced tax compliance, streamlined IGST settlements, and an expanding tax base. The rise in revenue from petroleum products over the past two months indicates a boost in economic activity and better compliance in the sector. Professional tax collections experienced an exponential increase in Q1, with a notable 70% growth in June 2025 compared to the same period last year. The notable rise in net GST collections is significant because it shows the actual revenue credited to the State's account after adjustments for IGST settlements and related transfers. Unlike gross GST collections, which include total tax paid across different components, net collections give a clearer and more accurate view of the State's fiscal health. This figure represents the real funds available for Andhra Pradesh to spend on public services, infrastructure and welfare programmes, thus serving as a reliable indicator of the State's economic strength and available resources, according to Commissioner of Commercial Taxes Babu A. This has been achieved by utilising data analytics and Al tools to identify outliers, prevent revenue leakages and curb tax evasion effectively. In this context, the most accurate indicator of the State's financial health is net revenue collection, which has grown by 7.10% under the GST Act and 6.58% under all Acts in June 2025 compared to the previous year. This growth reflects the actual revenue accrued to the State, as it considers the SGST and IGST settlement amounts, providing a more precise picture of the State's fiscal situation.
Time of India
43 minutes ago
- Time of India
PM: GST served as powerful growth engine
New Delhi: PM Narendra Modi on Tuesday said goods and services tax has served as a powerful engine of growth and helped foster co-operative federalism by making states equal partners in this journey to integrate India's market. "Eight years since it was introduced, GST stands out as a landmark reform that has reshaped India's economic landscape. By reducing compliance burden, it has greatly improved the Ease of Doing Business, particularly for small and medium enterprises," Modi posted on X. GST, which was implemented from July 1, 2017, unified 17 taxes and 13 cesses, created a seamless national market by simplifying compliance and digitising tax systems. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hindustan Times
an hour ago
- Hindustan Times
Punjab GST collections see record 44% jump in June
Punjab registered a record 44% year-on-year growth in net goods and services tax (GST) collection for June 2025 and 27.01% growth for the first quarter of the 2025-26 financial year, said finance and taxation minister Harpal Singh Cheema on Tuesday. Harpal Singh Cheema. Addressing a press conference here, Cheema said that the net GST collection for June 2025 stood at ₹ 2,379.90 crore, reflecting a revenue growth of ₹ 732.21 crore over the ₹ 1,647.69 crore collected in June 2024. 'This follows monthly net growth trends of 15.35% in April and 24.59% in May. During the first quarter, the collection reached ₹ 6,830.40 crore, even amidst the conflict between India and Pakistan in May 2025, compared to ₹ 5,377.75 crore during the corresponding period of 2024-25,' he said, after facilitating the top five taxpayers of the state, including Ambuja Cement, HPCL-Mittal Energy Limited (HMEL), Samsung India Pvt Ltd, Tata Steel and Dada Motors. Launching a scathing attack on the previous SAD-BJP and Congress-led governments, Cheema claimed that while they failed to check tax evasion and improve the state's fiscal health, the AAP government has ensured consistent month-on-month and year-on-year growth. He said the present government registered a GST collection growth rate of 16.25% in FY 2022-23, 15.51% in FY 2023-24, and 12.84% in FY 2024-25, with a total collection of ₹ 62,733 crore in three years. He said that during the Congress regime from 2018-19 to 2021-22, the state merely collected ₹ 55,146 crore. On the recent enforcement activities, Cheema stated that the state intelligence and preventive unit (SIPU) had uncovered a GST fraud syndicate run by an accountant who created and operated 20 fake firms for bogus billing and ITC fraud. Replying to a question, he also stated that the state government recently invested ₹ 1,000 crore each in the guarantee redemption fund (GRF) and consolidated sinking fund (CSF), with the latter now exceeding ₹ 10,000 crore.
