Latest news with #CGST
New Indian Express
19 hours ago
- Business
- New Indian Express
Andhra Pradesh taxes show 2.3% rise despite decline of GST in May
VIJAYAWADA: Despite a marginal negative growth rate of 2.24% in gross GST collections, Andhra Pradesh has demonstrated remarkable resilience and efficiency in tax collection, successfully reversing the downward trend observed in November and December 2024, asserts Babu A, Chief Commissioner of State Taxes. In a detailed note issued Monday, he explained that the main reason for the negative growth was due to declines in Cess, SGST, and CGST payments, with reductions of Rs 52 crores (-20.02%), Rs 51 crores (-4.11%), and Rs 40 crores (-4.01%) respectively. However he noted that the overall impact of these declines was minimal on the state's actual revenue, as net revenue collections continue to demonstrate strong performance. The resilience of net collections underscores the effectiveness of state-level tax administration and enforcement efforts in ensuring steady revenue inflows, he stated. Further elaborating, Babu stated that the data from the Goods and Services Tax Network (GSTN), Central and State tax administrations showed divergent revenue trends during April-May 2025. Central tax collections declined by 7.2% year-over-year, while state tax administrations recorded 2.3% growth during the same period.
Time of India
a day ago
- Business
- Time of India
Andhra Pradesh marks growth in GST revenue in this year's 1st quarter so far
Vijayawada: Andhra Pradesh has demonstrated remarkable resilience and efficiency in tax collection. It has successfully reversed the downward trend that was observed in November and December, 2024. The state achieved sustained growth in GST revenue during the first quarter of 2025, with April emerging as an exceptional month for revenue collection. This May, net GST collections reached ₹2,714 crore. This was the highest amount collected for the month of May since the introduction of GST. The performance not only signifies effective tax administration but also reflects the positive economic momentum in the state. "The steady increase in tax revenue underscores strength of the state's financial framework and the success of various initiatives designed to enhance tax compliance and enforcement," said Babu A, AP chief commissioner of taxes. This growth in net collections is particularly significant because net revenue represents the actual revenue accrued to the state after accounting for IGST settlements and other components. While gross collections reflect the total tax paid, net collections provide a more accurate indicator of the state's fiscal health by considering the revenues available for state expenditures. The gross GST collections for May, 2025 have registered a negative growth of (-) 2.24%. The main reason for the negative growth is the negative collection in cess, SGST and CGST payment with a decline of ₹52 crore (- 20.02%), ₹51 crore (-4.11%), and ₹40 crore (-4.01%), respectively. However, the overall impact of these negative cess and CGST growth is minimal on the state's actual revenue, as net revenue collections continue to demonstrate strong performance. "The resilience of net collections underscores the effectiveness of state-level tax administration and enforcement efforts in ensuring steady revenue inflows," said Babu. According to data from the Goods and Service Tax Network (GSTN), Central and State tax administrations showed divergent revenue trends during April-May this year. Central tax collections declined by 7.2% year-over-year, while state tax administrations recorded 3.2% growth during the same period. Without the central tax administration's negative performance, the overall gross GST collections would have shown a 3%+ growth rate instead of being dragged down by the central component.
India Gazette
3 days ago
- Business
- India Gazette
GST collections in May 2025 up 16.4% to Rs 2.01 lakh crore
New Delhi [India], June 1 (ANI): The gross Goods and Services Tax (GST) collection rose 16.4 per cent to Rs 201,050 crore, according to official data released on Sunday. In May 2024, the collections were to the tune of Rs 172,739 crore. In the month of May, collections of CGST, SGST, IGST, and cess all rose year-on-year. So far in April-May 2025-26, the GST collections were at Rs 437,767 crore, up 14.3 per cent from Rs 383,006 crore in the same period last year. GST collection in 2024-25 stood at Rs 22 lakh crore, up 9.4 per cent year-on-year. During the financial year 2023-24, the total gross GST collection was recorded at Rs 20.18 lakh crore, with an 11.7 per cent increase. The recent GST collections reflect a positive trajectory for India's economy, underscoring robust domestic consumption and buoyant import activity. The figures bode well for the country's fiscal health and economic recovery efforts, signalling resilience amidst global uncertainties. The Goods and Services Tax was introduced in the country with effect from July 1, 2017, and states were assured compensation for loss of any revenue arising on account of the implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for five years. Hair oil, toothpaste, soap; detergents and washing powder; wheat; rice; curd, lassi, buttermilk; wristwatches; TV up to 32 inches; refrigerators; washing machines, mobile phones, are among key items on which GST rates have been slashed substantially, or for some kept at zero, benefiting people of this country. The GST Council, a federal body comprising the Union Finance Minister as its Chairman and Finance Ministers of all States as members, has played its part in the forum. The latest meeting of the GST Council was held on December 21 at Jaisalmer, Rajasthan. (ANI)
United News of India
4 days ago
- United News of India
Punjab Vigilance arrests CA while taking bribe
Chandigarh, May 31 (UNI) The Punjab Vigilance Bureau (VB) arrested Gursewak Singh, chartered accountant (CA), Jalandhar, for allegedly demanding and accepting a bribe of Rs 10 lakh on behalf of a CGST officer posted at Jalandhar. An official spokesperson of the state VB said here on Saturday that the arrest was made following a complaint made by a firm owner, a Jalandhar resident. He informed that the complainant approached the VB alleging that the CA had demanded Rs 30 lakh from him on behalf of a CGST officer as a bribe for benefiting in an enquiry being conducted under CGST Act against his firm. The spokesperson said an FIR has been registered against the accused at VB police station in Mohali. The accused would be produced before a court even as the investigation continues. In another case, the VB arrested SI Sukhraj Singh, posted at CIA Staff Jalandhar, while he was accepting a bribe of Rs 30,000. The spokesperson said the police officer has been arrested following a complaint lodged by a readymade garments shopowner of village Saidpur Kalan, Tehsil Ajnala in Amritsar. A case has been registered against the accused at the VB Police Station, Jalandhar Range, and further investigation is underway, he said. UNI GS PRS
Hindustan Times
4 days ago
- Hindustan Times
Punjab: CA held taking ₹10L bribe on behalf of IRS officer: VB
The Punjab Vigilance Bureau (VB) on Friday said it arrested a charted accountant (CA) red-handed for reportedly demanding and accepting ₹10 lakh as bribe on the behalf of an Indian Revenue Service (IRS) officer posted as assistant commissioner, Central Goods and Services Tax (CGST), Jalandhar. The accused has been identified as Gursewak Singh, a resident of Jalandhar. An official spokesperson of the state VB said the arrests were made after a firm owner complained that the CA demanded ₹30 lakh from him on behalf of the CGST assistant commissioner as bribe for benefiting the company in connection with an inquiry being conducted under the CGST Act. The spokesperson further said that after a preliminary verification of the complaint, a VB flying squad laid a trap during which the CA was arrested red-handed while he was receiving the first installment of ₹10 lakh from the complainant in presence of two official witnesses. 'On the basis of the disclosure of the CA, the role of the IRS officer is under investigation,' a spokesperson said. He informed that an FIR has been registered against the CA under Sections 7 and 7A of the Prevention of Corruption Act and under Section 61(2) of the BNS at the VB police station, flying squad-1, Punjab, in Mohali. The accused would be produced in a court on Saturday and further investigation was under progress, he added.
